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  • Hey guys I'm Jake. This week is my spring break. I have been planning to travel the world for so long now!
  • The first choice I had to make was what airline I was going to use. There are so many choices and I'm free to choose which ever I want.
  • This freedom of choice makes company's compete for my money. This allows me as a consumer to choose which ever company has the lowest prices.  
  • They need to be careful because they need to make the prices high enough to make money. This is called their profit. 
  • This is Cudoba. Farmers here are told what to grow by the government. This farmer was told he could only grow potatoes. 
  • This is a Command Economy.
  • Welcome to Goovast. Here the people decide what to buy and sell. They also choose the price.
  • I'm Billy I own the shop down the street. I sell my burgers for $2.50.
  • This is a Market Economy.
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