Economics Storyboard

Economics Storyboard

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  • The Day It All Happened
  • Day 1: Havana, Cuba
  • So, what is the demand of the Cuban people, and how are you going to find your market price to supply their wants? 
  • Oh, we don't have to worry about that here, the government tells us how much to make and what price to sell it for, so we aren't able to have a say
  • Day 1 Cont.
  • I just make the bear minimum profit that the government controls, and I wish I could make more to buy more designer clothes.
  • How are you able to make a lot of profit to provide for your family if you don't have any say in the marketing price of items?
  • On September 2nd, 2018, I woke up around 7 am to the sound of someone knocking on my door. I went to answer the door and a letter had been slid underneath my door. "Congratulations" it said, "because of your work ethic here at Nike, you have won a trip to 4 different countries including Cuba, France, Haiti and Sweden to experience their business procedures."  
  • Day 2: Paris, France
  • Yes, we do! I find them very helpful and beneficial both as a consumer and producer.
  • To: Naomi Clark
  • My first trip was Havana, Cuba. Here in Cuba the economy is very different than back home in the U.S. They have a command economy which is when the resources are owned and controlled by the government. 
  • Day 2 Cont.
  • What is your opinion about freedom of choice?
  • It was definitely different than any economy I'd ever seen before. In the United States we have a little government control, but they don't control our every business move.
  • Day 2 Cont. 
  • I love being able to make the most profit possible because we are able to do so much more things in life
  • My second trip was to Paris, France. Here in France they have a market economy where the resources are owned and controlled by the people of the country (just like in the U.S.).
  • Since you have a market economy just like we do back in the U.S, you must have the 4 principles of capitalism right?
  • I also talked with Kelsey, the business women I met in France, about the principles of capitalism. First we mentioned the freedom of choice which is being able to choose what to sell/ what decisions to make. It is beneficial because you will be able to make a larger profit if you are able to choose what you sell since you can market only items that people are interested in. 
  • It is so amazing because we are able to be creative and aren't limited to anything!
  • Then we talked about the freedom to make a profit which is saying that you are eligible to make a profit on any good or services that you supply and sell. It is beneficial because making a profit is needed in order to provide for yourself/ your family. Also some people as in command economy, only make a certain profit no matter how much they sell, but here we can make as much profit as we want based on our supply and the consumers demand. 
  • How do you like being able to make a profit?
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