Trivia: What is the economic system of the United States?
Mixed economy
Traditional economy
Command economy
Market economy
The correct answer is Mixed economy
So why is this answer correct? : The U.S. is a mixed economy, which means that it embraces the free market when it comes to capital use but employs government regulation and intervention on behalf of the public good — it exhibits the characteristics of both capitalism and socialism. A market economy is when the prices of goods and services are determined by the interactions of the country’s citizens and businesses; a traditional economy centers around time-honored beliefs; and a command economy is regulated by the government.