Business storyboard part 1

Business storyboard part 1

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Storyboard Text

  • This is Grace and Alex. They live in the traditional economic country of Ethiopia.  They own two goats and a small portion of land where they plant and harvest crops by hand.
  • They harvest and sell the milk and produce at a simple roadside stand. While these somewhat primitive methods of agriculture and business limit their economic growth, Grace and Alex prefer to stick to tradition.
  • This is Michael. He owns a large farm in Australia. Since Australia is a free market economy, Michael has the right to choose what crops he produces and how he will produce them. This allows him to expand his farm however he sees fit to maximize his profits.
  • After harvesting his crops, Michael can sell them to whomever he likes at a rate the market will pay, or market price. Afterwards, Michael keeps all of his hard-earned profit. He can choose to save it or invest it back into his farm.
  • This is John. Unfortunately for John, he has lived his whole life in the communist state of North Korea. The government regime closely monitors and controls his work and production as a farmer. He is not allowed to own land or keep profit from his crops.
  • After the harvest, the government takes all of the crops produced by John the Farmer and redistributes them to the whole population in small amounts.  Because of his country's harsh command economy, John has no hope of economic growth in the future.
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