This is one unit of the series described in SO 000 378. One of the most important developments in the recent interpretations of American economic history has been the emphasis placed on business. The specific objectives of this unit are enumerated: 1) to realize that all resources are limited and the utilization of these resources is determined by society; 2) to understand that American businesses are predominately financed by private capital; 3) to investigate the historical development of our present business and industrial system --the origins of business, organization, and methods; 4) to understand the public and private economic forces in a mixed economy; 5) to recognize the changes in management and the decision-making processes; 6) to investigate the role of business in the solution of social problems; 7) to understand that technological advancement has necessitated flexibility in the individual, in the social structure, and in national and international problems; 8) to know the function of the stock market, business cycles, competitive markets, restrictions on the free market, and monetary/fiscal policy; and, 9) to understand the problems created by the action s of business in such areas as advertising, balance of payments, conservation, distribution of income, employment practices, obsolescence, price fixing and collusion, and research. (SBE)