Economic Systems
Storyboard Text
- Market Economy
- I can't believe it! I finally saved up enough money to open my own café. I hope my prices aren't set too high and that people want to buy my gourmet cookies & cupcakes.
- Me too. Since we live in a market economy let's hope another café doesn't open up in the neighborhood with lower prices.
- How Goods are Produced & Distributed in a market economy? Goods and services are produced & distributed according to how much consumers desire the item & are willing to pay - Supply & Demand!
- Hey Annie, can you believe all 3 of these stores carry the latest shoe. It has been sold out everywhere! I wonder how much they cost!
- Sid's Shoes
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- Shoe World
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- I better buy them before they run out and the price goes up because of more people demanding them.
- Wow! I don't care how much they cost. I will buy them. I have been wanting them for a year.
- Shoe Store
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- Pro of a Market Economy - ChoiceMarket Economies create competition which in turn creates choice.
- Wow! So many choices, I can't decide!!
- They are really keeping up with the competition. Last week they didn't have nearly the choices that they have today. Did they lower their prices?
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