Final answer:
The collaboration between government, business, and multiple stakeholders to address societal needs is referred to as a nation's economic system, which in the U.S. is a mixed economy balancing market freedom and government regulation.
Step-by-step explanation:
The arrangement in which government and business work collaboratively with multiple stakeholders to use resources to meet the needs of the members of a society is called the economic system of a nation. In the United States, this is characterized by a mixed economy where both market forces and government regulations play vital roles. The interconnectedness of government and business impacts the distribution of goods and services, where the government is responsible for both direct and indirect roles such as regulator, protector, provider, consumer, and promoter of national goals. This system evolves over time as it continues to balance the market freedom and government rules to better serve the population's needs.