American Free Enterprise

Mattie McGill

Economic Freedom

Here is a picture of Andrew Carnegie's steel factory. Andrew Carnegie used economic freedom to make choices favorable to him and by that he became the richest man in the world until John D. Rockefeller passed him in individual worth. Andrew was worth the equivalent of 310 billion dollars in today's money.

Voluntary Exchange

This picture represents how people have the liberty to choose from where and from who and what to buy . In this case the exchange takes place in a Starbucks.

Private Property

This represents the exchange of ownership of a private house which is a good representation of private property principle. Private property is owned by individuals or other entities that are not associated with the government.

Profit Motive

Here is a potential business owner dealing with everyday business problems because at the end of the day he wants his business to be profitable.Businesses are only open to make a profit and they try to make as big of a profit as possible.

Competition

Just like in sports there will always be competition no matter what you do in the economi. Some competitors might fall and go out of business, some might be better and make more profit but in the end your decisions are the ones that will lead you to profit.

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