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.