Aspects of a Free Enterprise by Chloe Weber

1. Economic Freedom

2. Voluntary Exchange

3. Private Property

4. Profit Motive

5. Competition

Economic Freedom

Consumers are free to choose their occupation, job location, and their employer.

Voluntary Exchange

The creation of a market when goods are exchanged through personal demand, rather than forced by an outside party.

Private Property

Our property rights allow us to do what we like with our property. It cannot be taken away.

Profit Motive

If you make no profit then naturally you would either stop what you're doing or change your approach immediately, and vice versa.

Competition

Competition promotes a greater range of prices and quality for consumers to buy.

Video Recap

This video is slightly long because the characters move a little slowly, and it merely recaps what a free enterprise is when it comes to businesses on a very basic level. It doesn't talk about competing widget makers, but it does shows the circulation of money, what companies do with their profits, the market that is created when people buy the products, and we can imply that the government can't take away the business due to private property rights, and the whole reason the company is created is through free enterprise.

Comment Stream

2 years ago
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I like this video because it shows what role producers and consumers have in an economy and how they can be both at the same time. There is a continuous cycle of money, as it has to be used to buy material and pay workers, but then comes back as profit, and goes through the cycle again. Producers can buy materials they think will help make their product better so they can have a bigger profit after they pay their expenses.

2 years ago
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I agree with Shelby in saying that consumers and producers are a very large factor in the success of our economy. They have to be able to coexist harmoniously in order for our economy to thrive.

2 years ago
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The meme was quite comical. You video although it was a little long was educational. It really shows how producers and consumers really are the make up of our economy. They also have to work together to get the best economy that we can have for our country.

2 years ago
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I totally agree with Bratton on this one. The video was long, but VERY educational. I like how it shows every single part of what each actor does in out economy. This helped me understand who does which job. The layout of your Tackk was very organized as well. I liked how you stated the 5 before you went into detail about them.