The American Dream

7 Pages 1805 Words

What is the American Dream? Is the American Dream still achievable? What is an opportunity and how can we plan for it? The questions remain. Everyone’s dream is to own their own business and to be their own manager. Proper steps and timing must be used in order to reach this so called “American dream”. However, it is the steps that deter people from achieving their dream. Opportunity is only available for people that desire to achieve. We live in a market economy.

A "market" is a place where goods are bought and sold. This also means that the market or marketplace is the possibility of sale. Goods "find a market.” If you have a product, eventually you will find a place in the market where it can be most profitable. There is also a market for services. Services can be bought and sold the same way that commodities are bought and sold. Whether it be a service or a commodity, if there is a demand for it the product and/or commodity will be sold. Markets are opened to those who want to sell their product or commodity. Markets are also available for the convenience of those looking to purchase a particular product or service. The market represents an opportunity for all, buyers, and sellers. A market economy works on market “pressures” that develop for different commodities. These “pressures” are defined as an offering of the product, the choice of whether or not the product or service should be bought and time constraints. As business owners glimpse the future, decisions are made on the basis of the following factors: (1) Profit (2) Capital Investments (3) Production results. The owner of the business will review what profit has been made from their production and what losses they have incurred through that process. After reviewing the results of the profit margin, the owner must make decisions to increase volume. This process usually involves hiring more people, buying more materials, and often bidding up their prices...