Economic System
Storyboard Text
- Today kids, we'll be learning about the US economy system! Does anyone know what its called?
- Yes, Alex?
- It's capitalism!
- Great! Now let's talk about the four principles it's based on. First we have the right to own private property like how your parents own their house. People also have the freedom to make their own economic decisions.
- People can also make their own profit from things they sell on their own. And what's next ?
- Competition!
- And now class what's next?
- Perfect! Competition is when businesses compete against each other for popularity among costumers and profit.
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