Untitled Storyboard
Storyboard Text
- Slide: 1
- Chinese Restaurant
- Chinese Food
- Bakery
- Some Chinese food sounds good right now. But there are two restaurants, how are they allowed to open another Chinese restaurant right next to one that's already there?
- Good catch, this is an example of another principle of the U.S economic system: Competition. Since there is Freedom of Choice, people are allowed to open very similar businesses to each other. This of course will take some of the profits from the original which means they need to improve somehow in order to keep their customers and their profit.
- Slide: 2
- Holy moly! Look at these prices! $8 for fried rice? If I go to the store I could buy the ingredients for like $2 myself this is an outrage!
- But you forgot to take another thing into account, These businesses open up in order to make money, and also your paying for the services that the restaurant provides you, such as cooking the food and cleaning up after. Which is not free. This profit is what all businesses in America are built upon which is why it is another principle in the U.S economic system, all businesses need to make money because the people own the resources, not the government.
- Slide: 3
- Wow that was a productive and educational day, I hope you learned a lot about the U.S Economic System
- I did! Now I know that the four principles of the U.S economic system are Freedom of Choice, Private Property, Competition, and Profit. Thanks a lot I learned so much
Over 40 Million Storyboards Created
No Downloads, No Credit Card, and No Login Needed to Try!
