The Free Market
What better way to represent freedom than to show a picture of a bald eagle and an American Flag? That is why I chose this picture. Economic Freedom is the key to greater opportunity and an improved quality of life. It's the freedom to choose how to produce, sell, and use your own resources, while respecting others' rights to do the same. In my opinion, this drives our economy. With the right to choose how to produce and buy resources, an economy can flourish, much like our own.
Voluntary Exchange is the act of buyers and sellers freely and willingly engaging in market transactions. Moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred. This picture shows one person giving money to the other, demonstrating Voluntary Exchange through goods and services. It is likely that the man getting money either traded a good for money or even performed a service for the person paying him.
Private property is a legal designation of the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity; and collective property, which is owned by a group of non-governmental entities.
profit motive is an economic concept which posits that the ultimate goal of a business is to make money. One of the biggest motives in our economy is to make as much money as possible off of our ideas or from our labor.
Competition is the person or people with whom one is competing, especially in a commercial or sporting arena; the opposition. In this picture is Anderson Silva and Chris Weidman in UFC 168. Sometimes it seems as if some companies compete like this, with their kicks and punches being advertising. Sometimes the fight will last for a while but someone will come out on top. In this case Weidman came out on top, and injuring Silva and forcing him to rocooperate and build himself back into what he was.
Bill O'Reilly debates minimum wage