What type of economy does the US have?
The US has a "mixed economy". The economy is a mixture of socialist, command, and market.
What is a mixed economy?
A mixed economy is an economic system combining private and public enterprise.
What is the law of supply and demand?
The law of supply and demand is an economic model of price determination in a market.
What is capitalism?
Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
What are other forms of economies worldwide?
Traditional economic system, scarcity, command.