In their daily lives as consumers, people make decisions about the products they consume. As the markets in these various products have expanded over the years, manufacturers have given consumers more choices in order to compete with other companies. Competition causes quality to increase and firms to operate more efficiently. The growth of the advertising industry on Madison Avenue can be attributed to the increased number of choices and the need to measure and compare them. 7 Choice is the engine for a market economy in all goods and services. The foundation of basic economic theory is the ability of individual consumers to choose one good over another based on their own preferences. Parents prefer good food for their family over poor food. As a result of economic freedom, they have the right to choose better food, even if it means that better restaurants and grocery stores thrive while others close. Parents prefer better automobiles over poorer ones. They have the right to choose the cars they want, even if it means that some auto-makers expand production and others close plants. Parents prefer good schools over poor schools for their children. Why shouldn’t they have the right to choose better schools for their children?

Choice is the engine for a market economy in all goods and services. Why shouldn't parents have the right to choose better schools for their children?

Also Available As

Share More …