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They are important because in every country there will have to be a balance of control. Whether it be from the government, private leaders etc. Everyone needs someone that could point them in the right direction sometimes. You're supposed to answer this for me!!

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16y ago

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What is the economic system of the US called?

The economic system of the US is called Capitalism.


Why is democracy important to buying product in the US?

Democracy has nothing to do with capitalism, which is the economic system in the US. It would be capitalism that would be important to buying products. While democracy does not hinder economic growth, it does not help it either.


Is Accounting ingrained in your society and it is vital to your economic system in the US?

is accounting ingrained in our society and it is vital your economic system in the US?


The foundation of the US economic system is?

Capatilism


What is the economic system of the US Called explain how it works-?

capitalist economy, Karl Max describe a system in which a small group of people who control large amounts of money, or capital, make the most important economic decisions.


Most people in the US support an economic system that is?

Most people in the US support a Capitalism economic system in which you can make as much money as you like.


What kind of economic system does the US practice?

The US uses a mixed market econmy, which is the idea used to combinnes, capitalism, and free martkets to make profits. This is constant because in a mixed economy there is the philosophy of Laissez-faire capitalism which is french for let be. This means that the government does not interferes with businesses making their profits as long as it is legal.


What is economic system in the US is called an?

A mixed economy


What is another name for economic system in the US?

capitalism


Who established US economic system?

Alexander Hamilton


Do you have a free market system in the US?

The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system.


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".