Captialism and the U.S Economy

timer Asked: Jul 25th, 2014
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Question Description

How is the U.S. economy different from a command economy?Can the U.S. economy be called a true free market economy?Discuss the ways in which the fed. government interacts w/ & regulates the U.S. economy in both a command/free market economy.

Tutor Answer

Crystal P
School: Duke University

Question 1. In a command economy business decisions are planned out and decided by the government, and in the U.S economy business decisions are decided by the businesses themselves. For example in a command economy the government would decide how much a business can make, charge, and sell. In the U.S. economy businesses have the freedom to decide how much they will make, charge and sell.

Question 2. The U.S. economy isn't a true free market economy because a true free market economy doesn't have any kind of government regulations. The U.S economy is known as a mixed economy.

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