Anonymous answered this ) The United States economy is a mix of both because it

Question

Anonymous
answered this
) The United States economy is a mix of both because it combines central elements of capitalism and socialism as it allows private ownership and free enterprise to compete with businesses, industries and services owned and operated by the state .

2) Principles of market competition, private property, pursuit of profit are some of the elements of US economy that makes it a capitalist . For example healthcare institutions in the United States are administered on a profit based system .

3) The United States is not a purely capitalist society because government subsidies support some industries. Government bailouts for failing industries or government support for Agribusiness are some of the elemnets of socialism in the United States economy .

4) Socialism is an economic institution characterized by state ownership and the means of production are property of the state. For a smooth functioning of an economy , the elements of capitalism and socialism are required. An economy that is purely socialist or a capitalist can fail due to inefficiencies and thus a mixed economy that combines both is required if economies want to be a part of the global economy .

Explanation / Answer

In a capitalist economy "you are the winner" when your company is seen as a monopoly. This was true for Standard Oil, ATT, Microsoft. Take the company you work for (or own) and describe the scenario where you become a monopoly. Now big brother is coming in to stop you...

Grading
1. Describe your company an it's monopolistic state (1 point)
2. Describe what the Sherman Act will do to stop you, be specific (2 points)
3. Describe what the Clayton Act will do to stop you, be specific (2 points)

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.