Meet Curious George and the man with the yellow hat, they currently are at home and are about to go shopping at the mall to go and get a new tie. George loves going to the mall.
The Grocery Store
We should make peanut butter and jelly sandwhiches once we get home
On their way to the mall they experience one of the four principles of capitilsm- Competition. This is rivalry between buisnesses to sell products. They decide to stop and eat before they go to the mall because they are hungry. They can either eat at Crusty's Pizza or Slice of Heaven. This principle is beneficial to consumers because it encourages improved products , greater variety, and lower prices.
Returning Home
I'm good. How are you? Your house looks great!
While shopping for a tie, the man with the yellow hat experiences another principle of capitalism- Freedom of Choice. This is when you have the ability to make decisions and accept the consequences of those decisions. While shopping for a tie he is able to buy any tie he wants. This principle is beneficial because it allows consumers to choose between competition and everyone has different tastes and needs that they want fulfilled.
End of the Day
Today was fun! Do you want to go to the toy store tomorrow George?
OOH-EEE-EEE
Before heading home the man with the yellow hat and George stopped by the grocery store where they observed another example of the principles of capitalism- Profit. They were buying peanut butter and jelly and noticed that one of the items was full price and the other was on discount. A profit is a financial gain, it is the difference in the amount of mney earned and spent in buying or producing something. This principal is beneficial because it allows you to reinvest into your buisness and expand it.
Yum.
After returning from the mall they observe seeing the final principle of capitalism-Private Property. The man with a yellow hat and George see their friend who just bought a house. A house is an example of a private property because it is owned by essentially anyone other than the government. Private property is beneficial because it promotes efficiency by giving the owner of resources an incentive to maximize its value.
OOH-AA-EE
Hi! How are you?
George and the man with the yellow hat had a fun day and plan to go to the toy store tomorrow.
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