US economy
Updated: 12/10/2019
US economy
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Storyboard Text

  • History
  • Can someone tell me the four important principles of the US economy?
  • Good morning Class! Today we are going to be reviewing the US economic system.
  • History
  • I know! Private property, freedom of choice, profit, and competition.
  • History
  • Great! Now can you guys explain them?
  • History
  • Freedom of choice is your right to make economic decisions, and accept the outcome.
  • Private property is your right to do whatever you want with your belongings.
  • History
  • Profit is the money left from sales that the business keeps.
  • You could invest the money, satisfy your wants, and even develop a new product.
  • History
  • Businesses offer better services, keep their prices reasonable, and produce new products
  • Competition is the rivalry among businesses. This improves businesses
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