Endless Consumer Choice

The economy of the United States is based on a system in which a small group of people control large amounts of money and make the most important economic decisions. Ashley T. This is why the United States economy is categorized under a capitalist economy. The United States economy is characterized by vigorous competition among members of a free market. Products set at low prices encourage purchases, that then increase demand and variety of production. This supply demand and variability of supply widens the supply range for consumers and leads to endless consumer choice. On the surface, the United States gives powers to the Congress in order to fight for the liberty, life and pursuit of happiness of its inhabitants. Below the surface, the United States is a country based on a belief system of economic freedom, self interest, protection of private property, and the freedoms of enterprise and choice - freedoms to do, to be and to have. The surface and underneath the surface of the United States together allow the success of a market economy, prosperity and growth.The Constitution plays a huge role in supporting and encouraging the buying and selling of goods and services in the market economy.

The regulations of private property guarded by the constitution supports the freedom of choice and the production of goods and services. The United States economy is infested with ownership from private individuals and private institutions. This ability to obtain private ownership combined with the freedom to negotiate legal contracts permits people, with loose constraints, to obtain and use the resources they choose. The freedom of enterprise and choice in the below surface of the United States belief system allows owners of private companies to obtain and put into use resources for their production of goods and services. It also allows them to sell their goods and services in markets of their choice. Ashley T. At the same time, consumers have the same freedom to buy goods and services of their choice. To draw out an example of these freedoms look down any New York City avenue and you will find an endless amount of privately owned stores that sell specific goods that as private owners they have chosen to sell. They use their freedom of self interest to provide consumers with their own choices of goods and services. And again, at the same time, consumers walk down that avenue aiming to purchase whatever satisfies them and their needs.

The production of goods and services comes with the roles of buyers and sellers. A market is set up where the production, selling and buying of goods and services influence the supply and demand. This influence then signals the direction businesses market their prices as they compete to lure in consumers, but at the same act independently to their own self interest. Because private owners, sellers, buyers, and consumers have the freedom of self interest, they will always have an extensive and endless choice of consumption. Consumers are free to choose what Ashley T. they consume, private owners are free to choose what resources they use and what they produce, and buyers an sellers are free to buy what they want and sell what they want at