US Economic System- Mikayla Martino
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Sure! U.S. economic system is based on four important principles. Private property, Freedom of choice, Profit, Competition
Hey Liz, Can you help me review for the U.S. economic system quiz we have?
No problem! Private property, is when you own use and dispose of personal items that have value.
Got it, but can you explain it further?
Freedom of choice, allows you to decide which goods, service, and assets are available to you.
Okay, thanks for your help!
Profit, is the amount of money collected after the sale of a product or service.
What about profit?
Of course! Competition is to share limited goods.
Don't forget about Competition!
Thanks for helping me out, I know I'm gonna do great!
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