ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The U.S. has a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces the free market when it comes to capital use, but it also allows for government intervention for the public good.

Detailed explanation-2: -The United States is said to have a mixed economy because privately owned businesses and government both play important roles. Indeed, some of the most enduring debates of American economic history focus on the relative roles of the public and private sectors.

Detailed explanation-3: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.

Detailed explanation-4: -What kind of economy does the U.S. have? The U.S. has a mixed economy that blends some aspects of command and market economies. Relative to other countries around the world, the U.S. is among the more market-oriented nations, but it imposes strict regulations and controls in some areas.