Economics of S&E Asia and Skittles Lab Assessment

In the Skittles activity, which “World” classification had the most resources and trading freedom?

• Third World

• Second World

• First World

• Fourth World

How did students in the First World tend to behave with their Skittles?

• Ate quickly and hoarded

• Shared with the Third World

• Traded evenly with everyone

• Gave all their Skittles to the teacher

What economic concept is demonstrated when students from the Third World felt frustration or envy while watching others enjoy Skittles?

• Supply and demand

• Inflation

• Income disparity

• Free market

What was the main factor in determining a group's ability to trade Skittles in the simulation?

• Group size

• Teacher preference

• World classification

• Candy color

How does this simulation reflect real-world economics?

• All countries have equal access to goods

• Resources are evenly distributed

• Economic inequality impacts trade and lifestyle

• Everyone eats Skittles for lunch

According to the activity, what can improve a country’s standard of living?

• More government rules

• Access to economic resources and trade

• Having more citizens

• Limiting trade with others

What best explains the idea of a “standard of living” from this activity?

• The number of candies eaten

• The ability to enjoy or obtain goods

• The amount of homework a country gives

• The number of Skittles wasted

What type of economy does North Korea have (leans heavily this way)?

• Pure market

• Mixed

• Traditional

• Command

Which country in Southeast Asia has the most economic freedom?

• India

• North Korea

• Japan

• China

In a command economy, who makes most economic decisions?

• Private businesses

• The government

• Local farmers

• Foreign investors