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Telling her Family!
We missed you!!
Telling Riley's Best Friend!
I missed home so much but the trip was amazing!
Explaining to people at work!
We all missed you here at the office but how was learning about all of the different economies?
Riley comes home to tell about her amazing trip to four different countries. She starts telling her parents about the principles of capitalism that she also learned about on her trip like freedom of choice. Freedom of choice is making decisions and accepting the consequences. This is beneficial because we have to live with the consequences after making decisions.
What Riley talks about next is competition. Competition is rivalry among businesses to sell which encourages improved products. Competition is very important in the business world because competition is good for consumers because consumers get the opportunity to pick and choose who gets their money, time, and attention.
Profit and Private Property. Private property is a legal designation owned by you. Profit is basically a financial gain. The reasons these two are important is because profit is what is needed to start your businesses, if you don't have profit at all you won't have a business. Private property is important because private property is essential to economic growth.
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