Free Enterprise Book

Free Enterprise Book

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THE FREE ENTERPRISE BOOK
TEACHER’S MANUAL


15 Key Principles of Free Enterprise


The Story of Allen, Andre, Marcella and Sabetha


Activities to do with Students

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By


Jerry Dean Epps,Ph.D.



Start with Principle 1 and it will have a link to Principle 2, so you can read through all 15 Principles.  However, you can also click on any individual Principle to go to there directly.

Principle 1: Essentials that people need for physical survival are food, water, clothes and shelter.

Principle 2: Non-essentials that people desire for emotional enjoyment are things like toys for their children, special foods, nice clothes and free time.

Principle 3: People are motivated by profit and will work to get profit so they can buy the essential and non-essential goods and services they need or want.

Principle 4: “Pride of Ownership” comes from people earning and owning the things they use.

Principle 5: When people have money to save they have a chance to invest their savings in businesses that will give them profits in the future.

Principle 6: Rule of law is important so workers, owners and investors know that
investments they make today will be treated fairly in the future.

Principle 7: Stability in economic conditions allows owners, workers & investors to predict likely future profits.

Principle 8: When entrepreneurs start businesses they often need to borrow money (capital) and pay it back in small amounts over time.

Principle 9: Jobs are created when businesses grow or new businesses are created.

Principle 10: Ready access to capital is necessary for economic growth.

Principle 11: Competition forces businesses to be efficient so they can produce quality goods and services for a low price.

Principle 12: Supply and demand in the market place determines what goods/services are offered and what their price will be.

Principle 13: Each time value is added to a product/service it’s worth is increased and it’s price will go up.

Principle 14: Wars are costly and drain a society of its valuable human and material
resources.

Principle 15: Corruption in business and politics wastes money and produces unqualified leaders.