American Economic Free Enterprise
     -Jacob Taylor-

1. Economic Freedom

Economic Freedom is displayed in this symbol of an American flag, representing freedom, and the $100 bill representing the economy.

Voluntary Exchange

Voluntary Exchange is the idea that buyers and sellers freely and willingly engage in market transactions, normally both buyer and seller are better off after than before. Shown above both have something the other wants so if they engage in voluntary exchange they will be have a positive result.

Private Property

In economics Private Property means that resources are owned by individuals and businesses rather than the government. "No Trespassing"

Profit Motive

Profit Motive is the goal of a business to gain money/profits after all of their spending and to gradually make more and more money.


Competition is the rivalry of different businesses due to the incentive of gaining profits. If you look at the image above of two different business owners playing tug of war over the profits you may understand the concept more clearly.


The video above does a great job of simply explaining entrepreneurship and the role it plays in the world today.

Comment Stream

2 years ago

All in all I felt your tackk was very charming visually. I knew that entrepreneur were important to our economy but after watching your video, I now have a better understanding of HOW and WHY entrepreneurs and their ideas are vital to our economy.

2 years ago

The video on entrepreneurship does an excellent job showing how an entrepreneur does not just have to come up with an idea, but find a way to market the newly created product, get investments from other companies, and be able to convince others that the product is useful for them. Without entrepreneurship economies would become stagnant and innovation would come to a halt.