Final answer:
President Calvin Coolidge meant that the main focus and priority of the American people and the government should be on conducting and promoting business. He believed that allowing businesses to operate with minimal government intervention would lead to economic growth and prosperity.
Step-by-step explanation:
When President Calvin Coolidge said, "The business of America is business," he meant that the main focus and priority of the American people and the government should be on conducting and promoting business. He believed that allowing businesses to operate with minimal government intervention would lead to economic growth and prosperity. Coolidge emphasized the importance of individual enterprise and entrepreneurship, suggesting that business activities were the driving force behind America's success and progress.