This is my shop where I sell all my crops. Next door, is my competition. My neighbor also sells wheat in his store so we are constantly trying to bring in more and more costumers than the other. Having competition drives me to work harder.
Hello, my name is Lucy. Here in China we have a mixed economy. This means that we combine elements of a command and market economy. Right now I'm in a job interview and if they offer my the position, I'll have the freedom of choice to take the job or to decline.
I just finished my interview and they offered me the job. However, the pay is too low for my liking so I'm going to decline. Freedom of choice allows me to figure choose how I want to spend my life.
Alright class, I hope you've learned about all the types of economies and the principles of capitalism. After talking to Anna, John, Marcus, and Lucy, you should be prepared for our quiz on Friday!