Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
6th Edition
ISBN: 9781337386920
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
Question
100%
Chapter 1, Problem 1DQ
Summary Introduction

To determine: The factors caused American business to develop as a mixed economy.

Introduction: A mixed economy comprises of both privately owned businesses and government or state owned entities. Both have authority of owning, producing, trading products in the nation.

Expert Solution & Answer
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Explanation of Solution

The factors caused American business to develop as mixed economies are as follows:

The government participates in American Business by method for asset or goods markets, premiums, and particularly taxes which bring about making the American business advanced into a mixed economy, demonstrating the two components of socialism and capitalism. There are various factors which include, foreign rivalry, the Great Depression, World Wars I and II, and the expanding period of populace have additionally added to the mixed monetary framework. This is a system of business where the people are allowed to choose what to manufacture, how to manufacture it and what to sell it.

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