Freedom of choice


Freedom of choice

Created 3 years ago

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  1. Freedom of choice

    Slide 1 - Freedom of choice

    • By Larissa Castillo and Mariha Ruiz
  2.  Freedom of choice

    Slide 2 - Freedom of choice

    • Describes an individuals opportunity and antonym to
    • perform an action selected from at least two
    • available options, unconstrained by external parties
    • Economic Freedom of choice-the freedom of
    • economic agents to allocate their resources as they
    • see fit, among the options (such as goods, services, or
    • assets) that are available to them.
  3.  Freedom of Choice Means…

    Slide 3 - Freedom of Choice Means…

    • People in market economy have their freedom of
    • choice to choose what they want to sell
    • lets them be able to hire whenever, whoever
    • They get to sell and trade things that they want
    • They also get to choose what they want there prices
    • to be
  4. Slide 4

    • The key ingredients of economic freedom are personal
    • choice, voluntary exchange, freedom to compete in markets,
    • and protection of person and property
  5. Slide 5

    • Although people have freedom of choice there are laws they must follow.
    • There are inspections, standards, set by different departments formed by the government that must be met
  6. scenario

    Slide 6 - scenario

    • Although little Cesar's is a huge franchise all the stores are
    • privately owned so the owner can change the prices to
    • what they want
    • They can not change the menu but they can change the
    • prices