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  • Mixed Economy
  • Back Home in America
  • Capitalism
  • Adam was pleasantly surprised with China. The mixed economy allowed for lots of technological and economic growth, making the visit quite enjoyable.
  • Profit and Freedom of Choice
  • Adam's last and final stop on his trip was back to his home country, the United States. Adam spent some time in New York City. The United States is a market economy, also known as capitalism.
  • Competition and Private Property
  • In this economy, the resources are owned and controlled by the people of the country. There are 4 principles of capitalism: profit, freedom of choice, competition, and private property.
  • Adam's Favorite Economy
  • This economy allows me to enjoy cool places like this!
  • Profit is how much a producer makes from selling their good or service. Freedom of choice is being able to choose what goods and services you provide. 
  • Competition is the rivalry among businesses to provide their goods and services to consumers. Finally, private property is personally owning something and being allowed to claim it as yours.
  • Adam liked the market economy the most because he felt it allowed the most unique businesses to take form and helped make the city more interesting and fun.
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