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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Why is the American economy called a mixed economy?

Summary Introduction

To determine: The reasons on why American economy is called as 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.

Explanation

The reasons on why American economy is called as mixed economy is,

The American economy is termed a mixed economy since it shows the components of both socialism economy and capitalist economy. A capitalist economy is combined generation and utilization ...

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