Principles of business US economics

Principles of business US economics

Storyboard Text

  • Get off my lawn. this is private property!
  • What does it mean to have private property?
  • It means that you can use, own, or dispose of things of value.
  • What does it mean to have freedom of choice?
  • What are you going to order?
  • I think im going to treat myself with a hamburger and a milkshake thanks to our Freedom of Choice
  • It means that you can make economic decisions independently
  • What do you mean by profit?
  • Profit means the money left from sales after subtracting all the costs to operate
  • I wonder how much profit we made today after all our sales!
  • Let's leave and see ho our competition is doing
  • What does it mean to have competition
  • Competition is the rivalry among businesses to sell their good/services
  • Now knowing that, is does not look like our competition is doing much better than us
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