Traits of the U.S. Economy
Ceci Remy•Styles•Hemmings Pd.6
This is me with my One Direction tickets. This is an example of consumer sovereignty and voluntary exchange. Since everybody loves One Direction, they keep on going on tour.
These are pairs of Ugg boots. This demonstrates profit motive, since Uggs last for a long time, and people work to buy them. It also demonstrates competition, since there are also BearPaws, etc. (other types of boot brands) available. Consumer sovereignty is demonstrated because consumers want Uggs, so they are produced more; this is also economic freedom.
These are waffle tacos at Taco Bell. They are a new food product recently released by Taco Bell. They demonstrate consumer sovereignty by combining American's two favorite things- breakfast food and tacos.
This is an example of a market. It is where the price of goods and services are determined. Since this store sells tons of olives, the price of olives has probably decreased. This allows for competition between this market and other markets that sell olives.