What is the primary task for Day 1 of the project?
Divide responsibilities and create background information about population, resources, language, belief, type of economy, and create a map and economic plan.
What is the scenario presented to the students?
They are shipwrecked survivors on a distant uncharted island tasked with developing a new society.
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p.2
Economic Planning and Goals

What is the primary task for Day 1 of the project?

Divide responsibilities and create background information about population, resources, language, belief, type of economy, and create a map and economic plan.

p.2
Basic Needs and Rights

What is the scenario presented to the students?

They are shipwrecked survivors on a distant uncharted island tasked with developing a new society.

p.4
Economic Planning and Goals

What are the economic and/or socio-economic goals of your group?

To establish sustainable relations with the native tribe while utilizing coal resources responsibly.

p.4
Scarcity and Choice

What is the opportunity cost of pursuing the goal of utilizing coal resources?

The opportunity cost includes the potential loss of the native tribe's culture and the ecological impact of mining.

p.3
Resource Management and Distribution

How should water rights be determined?

By considering the needs of the community and environmental sustainability.

p.3
Problem Solving in Economic Contexts

How can overconsumption be addressed in a growing population?

By implementing sustainable practices and educating the community.

p.2
Economic Planning and Goals

What is the duration of the project?

The project will last 4 lessons.

p.3
Basic Needs and Rights

What basic needs should be guaranteed for all individuals?

Access to food, water, shelter, and healthcare.

p.1
Government and Civil Society Roles

What is the global context mentioned in the assessment?

Fairness and development (government and civil society).

p.4
Resource Management and Distribution

What goods and services will be produced, and what methods of production and distribution will be employed?

Coal as a fuel for machines; production will involve mining and distribution through local markets.

p.4
Problem Solving in Economic Contexts

What problem did you have to address in your island economy?

The challenge of balancing resource extraction with the rights of the native tribe; responded by establishing a council for joint decision-making.

p.2
Ecology and Economics Interaction

What is the average temperature of the island?

80°F.

p.3
Resource Management and Distribution

What factors should be considered when dividing land?

Equity, needs of the community, and environmental impact.

p.1
Scarcity and Choice

What is the statement of inquiry regarding scarcity?

Scarcity is connected with choices made by individuals, businesses, and government.

p.1
Problem Solving in Economic Contexts

What is the lowest mark specification for Criterion D?

0 marks if the student does not reach any standard.

p.1
Key Concepts of Economics

What concepts are analyzed in Criterion D?

Scarcity, choice, opportunity cost, basic needs, factors of production, and economic systems.

p.3
Economic Systems: Capitalism vs. Socialism

Should land be privately owned or collectively owned?

This depends on the values and goals of the society.

p.2
Economic Planning and Goals

What are the key elements to consider in the economic plan?

Economic and socio-economic goals, production methods, decision-making authority, and government involvement.

p.1
Problem Solving in Economic Contexts

What does Criterion D assess in the summative assessment?

Thinking Critically.

p.4
Ecology and Economics Interaction

How do economics and ecology interact in your island society?

They are in conflict; resource extraction may harm the environment, leading to scarcity of natural resources.

p.2
Problem Solving in Economic Contexts

What will students present on Day 3?

Their work on the economic plan and society setup.

p.2
Resource Management and Distribution

What natural resources are available on the island?

Fruit trees, fish, and land for agriculture.

p.4
Resource Management and Distribution

How will land, labor, and capital be used in your economic plan?

Land for mining coal, labor from both the native tribe and settlers, and capital for machinery and infrastructure.

p.3
Economic Planning and Goals

What are the implications of a defense-based economy?

It may prioritize military spending over social services, affecting overall welfare.

p.1
Problem Solving in Economic Contexts

What does Criterion C assess in the summative assessment?

Communicating.

p.4
Basic Needs and Rights

Will basic needs be guaranteed for all, and if so, which ones?

Yes, basic needs such as food, shelter, and healthcare will be guaranteed for both the native tribe and settlers.

p.3
Resource Management and Distribution

How should natural resources be governed?

By establishing rules to ensure sustainable use and prevent overexploitation.

p.1
Scarcity and Choice

Which related concepts are highlighted in the assessment?

Scarcity and Choice.

p.4
Economic Systems: Capitalism vs. Socialism

Is your economic system more capitalist or socialist?

It is a mixed economic system, combining elements of capitalism (resource utilization) and socialism (guaranteeing basic needs).

p.2
Scarcity and Choice

What is the main concept discussed in the scenario?

The concept of scarcity, choice, opportunity cost, basic needs, factors of production, and economic systems.

p.3
Labor and Job Allocation

What types of jobs are necessary for sustaining a desired lifestyle?

Jobs related to agriculture, healthcare, education, and infrastructure.

p.3
Labor and Job Allocation

Who should serve in a potential army?

Volunteers from the community, possibly incentivized by benefits.

p.4
Government and Civil Society Roles

What is the level of government involvement in your economic system?

Moderate government involvement to ensure fair resource distribution and protect the rights of the native tribe.

p.2
Resource Management and Distribution

What type of products can students create for their presentation?

Poster A2, Canva poster, Minecraft, or PPT.

p.1
Key Concepts of Economics

What is the key concept of Unit 1 in the summative assessment?

Connection.

p.1
Problem Solving in Economic Contexts

What is the highest mark specification for Criterion C?

7–8 marks for effective and accurate communication.

p.4
Government and Civil Society Roles

Where does decision-making authority lie in your economic system?

Decision-making authority will lie with a council that includes representatives from both the settlers and the native tribe.

Study Smarter, Not Harder
Study Smarter, Not Harder