Ever wondered what makes the US economy tick? The answer isn't a simple label! The United States operates under a **mixed economy**, primarily leaning towards a **market-oriented** system. This means that the forces of supply and demand play a significant role in determining prices, production, and resource allocation.
Think of it this way: businesses are free to decide what to produce and how to produce it, aiming to maximize profits. Consumers, on the other hand, freely choose what to buy, influencing demand.
However, it's not a completely free market. The 'mixed' part comes from government intervention. The US government regulates various industries, provides social security, funds education, and invests in infrastructure. These interventions aim to address market failures, protect consumers, and promote social welfare. So, while the US economy thrives on market principles, government regulation plays a crucial role in shaping its landscape.
