Larson is about to leave for Theran, Iran and Pyongyang, North Korea. Also they will visit Yemen in the middle east. Where he will meet very important people of the business world
Freedom of choice gives everyone freedom and makes everyone happy. Capitalism lets companies fight for something called profit. Profit is the leftover money pocketed by the workers. It makes it so everything is fair. Competition means industries duke it out legally to make more money. It spices it up. Private Property is so people get their privacy. It is beneficial because it gives the people more rights
Its so hot out here!
In Iran, the government controls the resources such as the oil production. However, the people get to pick their lifestyles and choices throughout their existence.
In a command economy such as North Korea, the government controls everything. Larson went to check out this economy. North Korea is very strict on the freedom their people have and what their government can do for them. This is what a Command economy looks like.
In Yemen they the economy called the traditional economy. The traditional economy is where they use the economy that was used way back when. Yemen is one of the examples of this economy
Larson, Hubert, and Ann made their way back to the United States, which is an example of a Market economy. A Market economy is one where everything is controlled by the people. An average person could start a business and make millions.