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What kind of economic system does the United States have?

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gangstachik | Student, Grade 11 | eNoter

Posted October 12, 2010 at 12:26 PM via web

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What kind of economic system does the United States have?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted October 12, 2010 at 12:30 PM (Answer #1)

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The United States has a mixed economy.  It is a combination of a free market economy and a command economy.  Compared with most other countries around the world, it is more towards a free market economy and less towards a command economy.

In most ways, the US has a market economy.  People can pretty much do what they want to do economically -- they can go into whatever business they want, make whatever they want, etc.  But there are aspects of a command economy.  There is a minimum wage, for example.  Also, there are environmental rules and safety rules and other such things.

On the whole, though, the US is pretty much of a free market economy.

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nikasho0100 | Student, Grade 12 | Salutatorian

Posted July 22, 2012 at 8:25 AM (Answer #2)

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United States is said to be having a mixed economy. But however It does have some characteristics of a free market economy.

if u placed it in a economic system line showing command economy on one side, mixed economy in the middle and free market economy on the other end united states would stand somewhere between mixed economy and free market economy. (slightly towards the free market side)

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