1. Capitalism and Economic Freedom
Understand Characteristics of our Economy
Understand Driving Forces of our Economy
Understand Roles People Play in our Economy

2. Characteristics of Free Enterprise Economy
Economic Freedom
Voluntary Exchange
Private Property Rights
Profit Motive
Competition

3. Economic Freedom
Given to people and businesses

4. Voluntary Exchange
Buyers and sellers actively exchanging in the market on their own

5. Private Property Rights
People may own and control their own possessions

6. Profit Motive Profit- Extent to which people are better off in the end
Profit Motive- Force that encourages people to make business ventures

7. Competition
Struggle among sellers to attract customers while lowering costs
Ensures lower costs and better quality

8. Entrepreneur’s Role Organize FOP Start businesses
Encourage competition

9. Consumer’s Role Decide products available
Consumer Sovereignty- Consumers rule the market

10. Government’s Role
Protector
Provider and Consumer

11. Government’s Role Cont.
Regulator
Promoter

12. DO YOU KNOW?? The characteristics of capitalism?
The driving forces of capitalism?
What roles we all play in capitalism?