Principles of Business

Principles of Business
  Copy


More Options: Make a Folding Card




Storyboard Description

This storyboard does not have a description.

Storyboard Text

  • Hey Stella, can I come over today to study for out US test? I am really confused on the US Economic System.
  • Of course, I'm about the catch the bus home now 
  • There are four principles to the US Economic System. Do you know what those are? 
  • Yes, they are private property, freedom of choice, profit, and competition. I don't really know the meaning behind them though. 
  • The first one is private property. The right of private property means you can own, use, or dispose of things of value 
  • Oh, so for example if I'm on the property of someone's and they don't want me there they can kick me out 
  • Got it,I think I am ready for the test! Thank you again! See you tomorrow!
  • The next one is freedom of choice right?
  • Yes, it means that you can make economic decisions independently and must accept the consequences of those decisions. 
  • Now the next one is Profit. It is the money left from sales after all of the costs of operating a buisness have been paid.
  • Oh, so if I owned a buisness the profit I make would be anything after all expenses have been paid
  • Before you leave there is one more and that is competition. Competition is the rivalry among businesses to sell their goods and services. 
Explore Our Articles and Examples

Try Our Other Websites!

Photos for Class   •   Quick Rubric   •   abcBABYart   •   Storyboard That's TpT Store