You have many choices of what car you want while you are here.
Day One: The decision
Should I buy the car from the first place I went to or the second business?
Meet Ella. Currently she is taking the first step to buy her first car for here sixteenth birthday.
Day Two: Pros and Cons
Should I spend all my money or try to still have some left over?
While she is at a car dealer, Ella experiences one of the four principles of Capitalism-Freedom of Choice. This is the ability to freely make choices, and accept the consequences. This principle is beneficial since it allows consumers to choose willingly between competition and generate profit.
Day Three: Buying and Claiming the Car
Thank you for signing the papers I will give you your licence and the car will be yours.
On her way home Ella experiences another principle of Capitalism-Competition. Competition is rivalry between two businesses to sell a product. While planning what car she would like to get Ella is torn between two businesses that are selling the same car. Competition encourages improved products and lower prices.
A Great Decision
While Ella is going over the pros and cons of the car at each business she experiences yet another principle of Capitalism-Profit! Profit is the difference between the amount earned and amount spent in buying, producing, or operating something. Ella is trying to decide if she should buy a car that costs all her money or one that leaves her with a little left over. Profit equals a company's revenues minus expenses.
After Ella has made her choice which business she is going to buy the car from she goes to the dealer, buys the car, and she experiences the fourth principle of Capitalism- Private Property! Private Property allows individuals to manage an object however they please. Ella claims the car by signing some papers and getting her license. Private Property promotes efficiency by giving the owner of resources an incentive to maximize its value.
After the long process of getting a car and experiencing all four principles of Capitalism Ella is very happy with her decision and loves her new car.