Economic Systems Through History
Written by Adi Ackerman, Head Teacher
"Economic Systems Through History" is written for 7th Grade (Ages 12-13). A 6th grader who is already steady on Economics and Money can use it too, and an older student can use it as a short review.
2 pages in this set
7th grade social studies worksheet: match five historical cases, from a medieval manor to Ottoman guilds, to economic systems. Answer key included. Part of our economic systems economics and money collection.
How do I use this worksheet?
Use the systems sheet as a history lesson, then the inflation sheet as a math connection.
What students will practice
- Students will define manor, guild, mercantilist, command and mixed systems.
- Students will decide who chooses what is made and for whom in each case.
- Students will match statements to the system they describe.
Spending Choices in a Household Budget
Fixed and Variable Expenses Over Six Months
Income, Expenses and Savings on a Ledger
Pay Stub Deductions and Net Pay
Cost-Benefit Analysis of a Town Decision
Opportunity Cost on a Production Graph
Scarcity and Ways to Allocate Goods
Inflation, CPI and Purchasing Power
Curriculum Links
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Browse the grade, subject, and topic this belongs to.
FAQ
How do I use this economic systems worksheet?
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Use the systems sheet as a history lesson, then the inflation sheet as a math connection.
What does this worksheet teach?
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Match five historical cases, from a medieval manor to Ottoman guilds, to economic systems. The directions on the page read: Read the five cases. Use them to complete page 2. An answer key is included.
Can I use this economic systems worksheet for homeschool or classroom?
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Yes, both. We made it for 7th grade Economics and Money, and it works the same at home or at school. At home, a student can work through it alone and then go over it with you, which shows quickly what is solid and what needs another look. In class it works as independent practice, homework or a warm-up, and you can print one copy or a full set.
What is a mixed economy?
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In a mixed economy, markets and government share the decisions.
What is a command economy?
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In a command economy, central planners decide what is made. Students match a statement about planners setting steel and coal goals to it.
What does inflation do to buying power?
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When prices rise, the same dollars buy less. The sheet shows a negative real change as less buying power.
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Worksheet Details
| Grade | 7th Grade |
| Subject | Social Studies |
| Topic | Economics and Money |
| Pages | 2 pages |
| Difficulty | Medium |
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Spending Choices in a Household Budget
Fixed and Variable Expenses Over Six Months
Income, Expenses and Savings on a Ledger
Pay Stub Deductions and Net Pay
Cost-Benefit Analysis of a Town Decision
Opportunity Cost on a Production Graph
Scarcity and Ways to Allocate Goods
Inflation, CPI and Purchasing Power