part 2 econnomic systems

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  • I'm almost ready to do my project, but i need more information. I'm gonna ask my friends!
  • A profit is a financial gain. An example is what money a business has left over after operating costs have been paid off. Its beneficial to the country because you can make your own money.
  • Hey Paula, what is profit?
  • Hey DJ Chris, what is freedom of choice?
  • Freedom of choice is being able to make decisions and accept the consequences of those decisions. Its beneficial to the country because you can say whatever you want.
  • Hey quarterback Kyle, what is competition?
  • Competition is a rivalry among businesses to sell. Its beneficial because it encourages improved products, practices, and lower prices.
  • Hey bus driver Steve, what is private property?
  • Private property is to own, use, or dispose of things of value. Its beneficial because you can decide what the consumers of your product can see.
  • I finally got all the information I need to start my project. Thanks to all my friends!
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