Kaitlin and her friend, Ashley, are currently on there way to St. Louis Lambert Airport to catch their flight out to Los Angeles, California for a dance convention that is taking place there this weekend. They both have been looking forward to this trip all week and they can't wait!!
But… due to their overbooked flight, Kaitlin and Ashley decided to take two separate flights out to California. The two Airline options they were given were Southwest, which offered free food/drinks and open seating or American Airlines, which offered free wi-fi and had reasonable ticket prices. Also, Southwest’s flight would be arriving around 3PM and American Airlines flight would be arriving around 6:45PM which was the only major disadvantage. But, Ashley ended up choosing to fly with Southwest and Kaitlin chose American Airlines. This demonstrates two out of the four principles of Capitalism which are Freedom of Choice which means to make decision sand accept the consequences, and Competition which is the rivalry among businesses to sell which encourages improved products, practices and lower prices. Both of these principles are beneficial because the Freedom of Choice gave Kaitlin and Ashley the option to choose which Airline they would want to fly with to California and Competition gave the customer advantages and disadvantages about each individual Airline.
Kaitlin chose to fly Southwest which offered her free food/drinks and open seating as well. Also, Kaitlin’s flight was landing 3 hours and 45 minutes earlier than Ashley’s flight. On Kaitlin’s flight, she started talking to a man that was sitting in a seat across the aisle from her, his name was Alex and he was from the United Kingdom. Alex and Kaitlin got to talking, and Alex told Kaitlin that he believes the United States and United Kingdom have a lot in common, including their economy type. Both the United States and United Kingdom share the same form of economy which is a Market Economy. A Market Economy is where resources are owned and controlled by the people of the country. Alex told Kaitlin that he works in a local grocery store in United Kingdom which is owned by the people of his country.
Ashley chose to fly with American Airlines which offered her free wi-fi and also, gave her a reasonable price for her ticket. Ashley’s flight was quite full so she ended sitting up by a very nice lady she ended up talking to majority of the flight. The lady’s name was Alana, and she was from Canada and was visiting the states for a business trip. She was talking to Ashley and she told her that she has been wanting to live in the United States for years now, and the reason why was because of their economy. Canada has a mixed economy which is combined elements of command and market economies. Some other areas that share the same economy as Canada are China, Russia and Sweden. But, Alana said that many businesses are ran, owned and controlled by the government but she said that many of her friends own and control their own restaurants, grocery stores and etc.
After Kaitlin and Ashley both arrived at LAX Airport, they went into a little restaurant within the airport to have some dinner. Both Ashley and Kaitlin enjoyed their dinners, which means the restaurant made a good profit for that night. A profit is one of the four principles of Capitalism and it means that the money left from sales after operating costs of businesses have been paid. At the end of the night, both Ashley and Kaitlin and the restaurants workers and main manager walked out happy. This principle is very beneficial because if customers are walking out of their doors happy, they known that they are doing something right and they will continue their methods and keep improving.
After a long day of traveling, Kaitlin and Ashley finally arrive to their hotel and call it a night. Tomorrow, their day will be full of dancing, meeting new people and adventuring in Los, Angeles, California.