Enterprise Day

what economy does America have?

America has a mixed market economy which means the government can control certain businesses not just citizens.

What is a mixed market economy?

A market economy where there is some government intervention.

what is the law of supply and demand?

Our mixed market is based on supply and demand, supply and demand works like this if there is a low supply and a high demand the price will be high.The greater the supply and the lower the demand, the lower the price will be.

what is capitalism?

an economic system in which a country's business and industry are controlled by private owners for profit, rather than by the state.

what are other types of economy worldwide?

planned economy

traditional economy

scarcity