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"Economic Growth and Freedom in the Coming Millennium" icon

Economic Growth and Freedom in the Coming Millennium

This lesson plan and its linked article help students to understand the basic incentive structure economic systems provide. Students will 1) engage in a simulation that demonstrates the ?Tragedy of the Commons?; 2) understand that different incentives create different results in the economy; and 3) explain how an economic system based on private ownership and free markets provides incentives to manage resources wisely and creates better likelihood of prosperity.

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