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| OpenAI. (2026). The words What is the economic system of the United States? [AI-generated infographic]. OpenAI. Edited by Jennifer Gagliardi |
The economic system of the United States is called capitalism. In a capitalist system, people can own businesses and property. Individuals decide what jobs they do and how they earn money. The government does not own most businesses. Instead, private people and companies run them.
The United States also has a free market economy. This means prices are mostly set by supply and demand, not by the government. Businesses decide what to produce and how much to sell. Consumers choose what to buy. Competition between businesses helps improve quality and keep prices fair.
Learn more:
USCIS 128 Civics Questions and Answers (2025 version)
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USCIS 100 Civics Questions and Answers (2008 version)
One Nation, One People (2024) original fomat | single page reformat
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