WORLD HISTORY

Detailed explanation-1: -Capitalism is the economic system in the United States. It is a market economy. Capitalism means that people, not the government, own most businesses. In the U.S., businesses decide what to sell.

Detailed explanation-2: -Capitalism is the greatest economic system because it has numerous benefits and creates multiple opportunities for individuals in society. Some of these benefits include producing wealth and innovation, improving the lives of individuals, and giving power to the people.

Detailed explanation-3: -Capitalism is often referred to as a free market economy in its purest form, where the means of production are owned by private interests. Embedded in these economic systems are political and social elements that influence the degree of purity of each system.

Detailed explanation-4: -The United States of America is one of the only major countries to follow capitalism. Innovation led by capitalism has been one of the major reasons the US has global corporations like Apple, Microsoft, Amazon, Google, and Facebook. The US Federal government does not own these corporations.

Detailed explanation-5: -Is the U.S. a socialist or a capitalist country? The US has a mixed economy. A mixed economy has components of both capitalism and socialism. Because there is less government regulation than a command economy would have, the US is more capitalist.