Presentation on theme: "Economic System I can explain how incentives impact behavior I can describe the manorial system of medieval Europe I can analyze and select which economic."— Presentation transcript:
Economic System I can explain how incentives impact behavior I can describe the manorial system of medieval Europe I can analyze and select which economic system existed during the Middle Ages
Feudalism: Medieval model of government The kings offered land or estates to knights or lords in exchange for military service 40 + days of service WHAT IS FEUDALISM?
WHAT WAS THE IMPACT OF THE INVASIONS AND RAIDS IN EUROPE IN THE LATE 700’S?
WHAT IS FEUDALISM?
WHY DID FEUDALISM EMERGE?
WHAT DID LORDS AND KNIGHTS RECEIVE FOR THEIR MILITARY SERVICE?
WHAT RESPONSIBILITIES DID THE KNIGHTS/LORDS HAVE?
WHAT DID THE SERFS OWE THE LORD?
WHAT DID THE MANOR LOOK LIKE?
1.Stand and put your hands on your shoulders 2.Reach down to your desk and select a seed (crumpled piece of paper) from an imaginary bag by bringing your elbows together 3.Reach down to the floor 4.Plant the seed gently by releasing your elbows. 5.Sit down at your desk 6.Write the word of your assigned product on the piece of scrap paper 7.Continue planting. PRODUCTION STEPS
GroupsCrops Group 1Barley Group 2Wheat Group 3Rye Group 4Oats Group 5Vegetables WELCOME TO NGUYEN MANOR! You work for Me- the Lord of the manor, there is no reward other than feeling good about trying your best. Slow workers may be punished. Prepare your seeds and record log
The rules have changed! Everything you put into the ground belongs to you. Everyone in your group must agree on what to produce Your goal is to plant as many seeds as possible so your family will have food to eat. What to produce? How to produce it? How to distribute goods/services? ROUND TWO
ECONOMIC INCENTIVES IncentivesPenalties Factors that motivate and influence behavior. Used for motivation A reward is positive Used to deter (stop) behavior Penalties are negative
HOW DOES TECHNOLOGY CHANGE PRODUCTION GroupTechnology ToolRound 3 1-BarleyHeavy Wheeled Plow 2-WheatDraft Animals 3-RyeWatermill 4-OatsThree Field System 5-VegetablesLord/Peasant Coop
HOW DOES TECHNOLOGY CHANGE PRODUCTION
WHICH ECONOMIC SYSTEM WAS FEUDALISM? Traditional System What, how and for whom are decided by tradition Command System What, how and for whom are decided by an individual or group in authority Market System What – whatever is profitable How- least costly method For whom- whoever will pay the highest price
ASSESSMENT What are three economic questions all societies must answer? What type of economic system is the manorial system most like? How do incentives change production? How does technology impact output?