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Actually the United States is a Market Economy. Some people also call it free enterprise or a capitalism. The US could also be a mixed economy because the government also owns some things like railroads and some businesses but it is more of a Market Economy. This is where you make choices on what you want to make, how much you want it to cost, you are free to do anything without little government interference. A traditional economy is quite old now, this is where you trade or barter than actually paying anything. A command economy is where the government tells you what to make, how much it will cost, and you have to deal with the government more. A mixed economy is where there is a mixture of economic systems.
To make it more plainer - The US could be either a Market or Mixed Economy but is more of a Market Economy!!
Hopes this helps :D
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∙ 13y ago
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Does Peru use free market economy command economy or mixed economy?
It would be Traditional economy because command economy would sort of be like Cuba and mixed economy would be like us (The United States).
If the US government took over the auto and steel industries how would this affect our economy?
our mixed economy would become less of a command and more of a traditional economy.
What economic systems does US use?
The US of A has a mixed economy - a combination of market economy and command economy.
Is the US a market or mixed economy?
The U.S is a mixed economy
What is the name of the US economic system?
The prevailing US economic system is CAPITALISM, but there are a number of elements of corporatism, socialism, and traditional economics in the US economy, leading to it being properly termed as a "mixed economy".
Does Peru use free market economy command economy or mixed economy?
It would be Traditional economy because command economy would sort of be like Cuba and mixed economy would be like us (The United States).
If the US government took over the auto and steel industries how would this affect our economy?
our mixed economy would become less of a command and more of a traditional economy.
What economic systems does US use?
The US of A has a mixed economy - a combination of market economy and command economy.
What are the different types of economics?
There are Market, Command (AKA Planned), And Mixed. In a Market Economy (Capitalism) Governments play a minor role. Command Economy (Often associated with Socialism and Communism) All major decisions are made by the government. Mixed Economy (Can be argued that it is the American System) Draws elements of both Market and Command to varying degrees.
Is the US a market or mixed economy?
The U.S is a mixed economy
Show me the history of mixed economy?
The US economy is a mixed economy (in fact, almost every country today has a mixed economy.) I suggest wikipedia for a history of US economy.
What is the name of the US economic system?
The prevailing US economic system is CAPITALISM, but there are a number of elements of corporatism, socialism, and traditional economics in the US economy, leading to it being properly termed as a "mixed economy".
Does US have a command economy?
No, the US has a market economy a result of its capitalist policies, command economies can be found in communist countries.
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
Does the US practice a mixed economy?
Yes, the US has a mixed economy, partially governmental, partially private enterprise.
What type of economy can the us be characterized as?
A mixed economy
Why is the US economic system called a mixed economy?
The characteristics of a market economy and command economy combine to form a mixed economy. It incorporates elements of both socialism and capitalism. In a mixed economy, state- owned enterprises and privately owned enterprises co-exist. The economic activities in such an economic system are controlled neither by the business entities that comprise market forces nor by the government. In a mixed economy, both of these come together and ensure economic development.
