USA HISTORY

Detailed explanation-1: -The U.S. economy is a free enterprise system. That means that individuals-and not the government-own most of our country’s resources. Free enterprise also means that supply and demand determine how our resources are used.

Detailed explanation-2: -This system was a product of the Enlightenment, an 18th-century intellectual movement that emphasized reason, critical thinking, skepticism, individualism, religious tolerance, democracy, capitalism, and other themes.

Detailed explanation-3: -The economy. The colonial economy of what would become the United States was pre-industrial, primarily characterized by subsistence farming. Farm households also were engaged in handicraft production, mostly for home consumption, but with some goods sold, mainly gold.