Economy Examples

By: Daniel Loncar

This is a market. There are prices and goods to be sold, and supply and demand will help change the prices.

The two kids can sell lemonade because of economic freedom. Without economic freedom, these kids would not be able to sell their lemonade. These kids can also choose to raise or drop the price, depending on supply and demand.

This fence protects the owners property within. As long as the person who owns this property does not violate other peoples rights, then they can do what they want within this fence. This is known as private property rights.

This kid was opening up a 1$ store, but competition near by is forcing his business to go out. He will either have to drop his prices, or go out of business. This is known as competition.

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