Tuesday, October 11, 2011

You Make the Policy

We know that the economy can be affected by many different factors.  Government policies, such as levels of taxation, can also have either a positive or negative impact on not only consumer spending but also production , employment and many other indicators of an economy's strength.
This simulator, http://www.bized.co.uk/virtual/economy/index.htm, allows you to create your own policies and see the outcome that each has on people within your society.  While it operates on the English Pound, you get the idea of how changes in various factors create benefit or detriment within your economy. 
Your assignment today is to play with this simulator and learn what effects your policies have on the economy. 

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