Page 65 - Business Principles and Management

Chapter
3 Economic Environment of Business

3.1 Economic Wants
3.2 Economic Systems

3.3 Fundamentals of Capitalism

3.4 Managing the Economy

RE ALITY CHECK

Hard Work Pays Off

uan Gonzales grew up in a small Mexican village. His parents were
“dirt-poor shopkeepers,” as he would often say, but Juan’s dad was
Jintent on going to America. And that’s what the family did when Juan
was 19. They moved to a large village in the state of New Mexico.
Upon arrival his parents bought a small neighborhood grocery store
that had a large backyard. Juan entered a technical college where he
learned about agricultural methods. One day after graduation his father
said, “Join me in running the store, Juan. Maybe together we can expand
with this growing neighborhood.” Juan smiled and told his dad he would
use the large backyard and his new knowledge to experiment with raising
and selling vegetables. Within a year, customers from other neighborhoods
were stopping by the Gonzaleses’ store to buy Juan’s fresh produce.
By the second year, the family decided to expand the store and move to a
nearby shopping area. Juan’s dad had already bought a farm to expand the
popular vegetable department and to add a homegrown-fruit department
as well. The store would now be called the Gonzales Fruit and Vegetable
Market. Within a short time, the store was prospering. Like so many people
before them, another family of motivated and hardworking immigrants
had succeeded in a country known for its prosperous economic system.
The Gonzales family had become an active part of the country’s growing
economy.

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