US Economic System
Storyboard Text
- Hey dad, I was watching T.V this moring and they were talking about the 4 principles of the U.S Economy. What is it?
- The 4 principles of the U.S ecomey are Private propery, Freedom of choice, profit and competition.
- would those stores be private property?
- Sal's Pizza
- Yes, They are owned by someone. Private property is anything you can own, use, or dispose of things of value.
- joe's watches
- The Food
- The Freedom of Choice is can make decisions independently and must acceptconsequences of those decisions. A example is you can pick any newspaper or magazine.
- Profit is the money left from sales after all of the costs of operating a businesshave been paid. Just like my store any money left over after is a profit
- Hey look there is two pizza places next to each other !!
- Sal's Pizza
- This what you actual call compitetion. Competion is the rivalry among businesses to sell their goods and services.
- Joe's Pizza
- Wow Dad, Thank you so much for telling me about the 4 principles of the U.S ecomey.
- No probelm son, It is very important to learn about. This is all stuff that happens in our everyday lives.
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