American Enterprise Day
By: CJ Voyles
- The United States has a mixed economy. It a combination of a market economy and a command economy.
- Compared with other parts of the world, the U.S. has a more of a free market economy, rather than a command economy.
Mixed Market Economy
- A mixed market economy is an economic system where producers and consumers make the decisions.
- The government does have a small part in this however.
Law of Supply and Demand
- The law of supply and demand describes the effect that the demand of a product has on the amount of the product that the supplier might have.
- Capitalism is an economic and political system in which the country's trade is controlled by private owners, rather than the state.
- Command economy- The government controls the entire economy.
- Pure Market Economy- The government have no involvement in the economy at all.