Hello there my name is Jacob Kibler and I am here today to tell you all about Kibland and my company known as Kib Inc. Where we sale and make The Dig 5000.
Kibland is a Free market economy. The is because I don't want the government or the rich to run this country. I like it to be regulated.
Kib Inc. is a monopoly because the Dig 5000 destroys the competition in the market.
This is the new factory development where me and my employees of Kib Inc. will be making and producing the Dig 5000. You may be asking what the Dig 5000 is? This very futuristic machine will take working construction to the next level. The sales of this product also Boost the economy of Kibland.
Kibland having a free market economy makes it to where the richest person (AKA Jacob Kibler) doesn't have all the power over Kibland. The government puts tariffs on foreign construction tools. This is so that all the money from the people buying the Dig 5000 will go back to the people of Kibland.
The Dig 5000 has a comparative advantage because it the ability to produce at a lower opportunity cost than other construction products from other countries.