Free Enterprise Chapter 7
Free Enterprise Main cause of Revolution Main cause of Revolution Colonists resentment towards British mercantilism (British making colonists buy only British goods) Colonists resentment towards British mercantilism (British making colonists buy only British goods) Before the war, the British economy was weakened due to boycotts Before the war, the British economy was weakened due to boycotts Colonists now had the opportunity to make more economic choices Colonists now had the opportunity to make more economic choices Mercantilism ending allowed for free enterprise to develop Mercantilism ending allowed for free enterprise to develop
Free Enterprise Free enterprise Free enterprise Business can be based on the choices of the individuals Business can be based on the choices of the individuals Competition encourages businesses to improve goods Competition encourages businesses to improve goods Individuals, not government, decide what to manufacture and sell Individuals, not government, decide what to manufacture and sell Desire to make a profit motivates people Desire to make a profit motivates people Government protects private property and makes sure businesses operate fairly Government protects private property and makes sure businesses operate fairly
Free Enterprise Competing Brands: Dasani : Expertly purified water Eco Friendly design Sold by Coca-Cola Evian Naya Pacifica Island Spring
Free Enterprise iPod Touch iPod Touch Competing prices: Competing prices: Best Buy Best Buy Target Target Wal-Mart Wal-Mart
Homework Assignment Find a newspaper, then cut out 2 different advertisements (for a similar product) and paste them notebook paper Find a newspaper, then cut out 2 different advertisements (for a similar product) and paste them notebook paper Or find 2 online advertisements (for a similar product) and print them out Or find 2 online advertisements (for a similar product) and print them out Bring them in to class on Monday Bring them in to class on Monday We will discuss/determine whether it is brand competition or price competition We will discuss/determine whether it is brand competition or price competition
Questions Take out your advertisement and answer the following questions in complete sentences 1. What is your product? 2. Is it competing brands, prices, or both? List brands/prices. 3. How does this show free enterprise? When you are done: hold on to your paper and wait until everyone is finished, we will discuss