Category: American Government
The economic system in the United States is a capitalist economy (also called a market economy). Private individuals and businesses — not the government — make most economic decisions.
In capitalism, people can own property, start businesses, compete in the marketplace, and set prices based on supply and demand. The government regulates but doesn't control the economy.
This is contrasted with command economies (like communism) where the government controls production and prices.
Say: 'Capitalist economy' or 'market economy.'
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