American Enterprise Day

By: Ashton Chambers

The Type of Economy in the United States

The economy as of right now in the United States is a mixture of three. The US economy is socialist, command, and market. It is a mixture because it is made up of individuals and corporations.

What is a Mixed Market Economy?

A mixed economy is an economy that includes a variety of private and government control.

What is the Law of Supply and Demand?

The law of supply and demand states that the availability of a particular good and the desire for a particular good based on price regulate within each other.

What is Capitalism?

Capitalism is an economic and political system in which a country's trade and industry are controlled by people for profit, and not by the state.

What are other types of economies in the world?

There are three basic forms of economies, command, market, and traditional economies. These all are based on (what to produce, how to produce it, and who to produce it for)