Characteristics of Free Enterprise

Economic Freedom

This man is exercising his economic freedom by choosing which pair of shorts he will rock next, based on his own will and no one else's.

Voluntary Exchange

This man is exchanging money for the fruit that the woman is selling. They are both engaging in an exchange that benefits both of them; the woman receives cash and the man receives fruit.

Private Property Rights

Having private property rights means people are allowed to own and control their possessions as they wish. This man is exercising these rights by choosing to paint his house.

Profit Motive

In a free enterprise, people are in control of their own property and wealth, so they are free to try to gain a profit any way they please. People are motivated to be more productive because they are working for their own profit. The person in the picture is relating to this point simply by chasing after money.

Competition  

Under free enterprise, entrepreneurs are free to produce what they think will be the most successful. This ensures that the best products will find their way to consumers and the best producers will succeed. The picture depicts businessmen that are racing towards a finish line. They are competing for first place, just as entrepreneurs compete for profit.

The Entrepreneur

The man in this video explains why entrepreneurs are essential to any successful economy. He also highlights that if entrepreneurs are restricted it could be detrimental to an economy.

Comment Stream

2 years ago
0

I really liked your pictures to relate to the 5 characteristics of free enterprise. I thought they were very creative, especially the first one. It was hilarious. Also, I liked the video. I thought the guy talking presented some great facts on why entrepreneurs are so vital to our economy. Overall, you did a beautiful job.

2 years ago
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I thought it was good but the formatting on the first picture was different than the others. That bothered my OCD but it's really not a big deal.

2 years ago
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This is one of my favorite ones by far! Your pictures made it all, but I would agree the formatting on the first picture does bother me, but I'll get over that. Magnificent job!

2 years ago
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I appreciated the video, I agree that entrepreneurs should not be inhibited. I love the first picture. Seeing a funny picture to go along with the information really does make it stick in my head better. Great information and quality presentation