buisness 4
Updated: 12/11/2019
buisness 4
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Storyboard Text

  • Hey, could you teach me about the four important principles in the U.S economic system?
  • There are 4 important principles in the U.S economic system, private property, freedom of choice, profit, and competition.
  • What is private property, in the U.S economic system?
  • Private property is, what you can own, use, or dispose of things of value.
  • what is freedom of choice in the U.S economic system?
  • Freedom of choice is, when you can make economic decisions independently and must except the consequences of those decisions.
  • What is profit in the U.S economic system?
  • Profit is the money left from sales after subtracting all the cost of operating a business. It helps the economy get stronger.
  • What is competition in the U.S economic system?
  • competition is, the rivalry among business to sell their good/services to the buyers.
  • Thank you for teaching me about the four important principles in the U.S economic system?
  • No problem.
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