BUS 101 FreemanFreedman

BUS 101 FreemanFreedman - Tom Hohman 1. Capitalism a form...

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Tom Hohman 1. Capitalism a form of economy where market decisions are left to individuals and the government is not involved at all. The decisions made are made in the best interest of the company making them. 2. The US economy is typically considered to be based on capitalism but in practice the government does have some control over the decisions that companies can make through regulations. Because the economy runs on both government regulation and free decision making it is considered a mixed economy. 3. He believed that by every persons greed would be able to be balanced out by capitalism and this would create the greatest amount of good for the most amount of people. 4. Competition would keep companies from monopolizing and taking advantage of society. 5. What he means to say is that if capitalism worked in the perfect way there would be so much competition that if a company was not being a benefit to itself and to its stakeholders then it would fail because employees would not work there and consumers would not buy there. 6.
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This note was uploaded on 11/07/2011 for the course BUS 101 taught by Professor Rollins during the Spring '08 term at Miami University.

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