What economic system is in play in the United States?
The United States is a market economy in which the production and consumption of goods and services is primarily determined by the law of supply and demand in a free market economy.
The United States has a capitalist market economy with some socialist elements. The country has a mixed economy, which combines elements of capitalism and socialism, and includes private enterprise, government regulation and central planning. The economy is governed by the laws of supply and demand and prices are determined in competitive markets.