What is the economic system of the United States?

Why this is the answer

The U.S. economy is described as capitalism or a free market economy because people can start businesses and make money. The study guide also calls this a market economy, where the government does not control all economic choices.

Answers that are not correct

These wrong answers are common mix-ups. They are not accepted at the interview.

• Feudal system
• Monarchy
• Socialist planned economy
• Command economy

More questions on this topic

• 9. What founding document said the American colonies were free from Britain?
• 10. Name two important ideas from the Declaration of Independence and the U.S. Constitution.
• 11. The words 'Life, Liberty, and the pursuit of Happiness' are in what founding document?
• 13. What is the rule of law?
• 14. Many documents influenced the U.S. Constitution. Name one.
• 15. There are three branches of government. Why?

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