The Mixed Economic System In The United States

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The economic system the United States of America follows is a mixed economy, which is a market-based economic system in which the government is involved to some except. In America’s case, however, the economy is very close to being a capitalist economy, which is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state, or in other words, a free market. The government only puts a few boundaries on what can and cannot be sold or bought. Therefore, the United States’ society allows anyone who has the money to buy any products they would like.
The answer to who can buy what is largely determined by how societies distribute income. This income is also known as …show more content…
People will succeed economically if their factors of production are efficient, growing and improving, secure, and equal (O’Sullivan, Sheffrin, and Wiggins 25). So, if the person or company is delivering the right goods in the right quantity to the right people at the right price, they are being efficient, and society will approve and buy their products. Therefore, if the product is efficient, then the workers will receive higher wages. Second, if goods, services, and help are available when needed, consumers will be happy, buy the goods, and the workers wages will consequently increase (O’Sullivan, Sheffrin, and Wiggins 26). The same goes for if the products the producers are selling are continuing to innovate and …show more content…
Once the workers are paid sufficiently, they are able to buy whatever products meet their wants and needs. If someone has a good, successful job, they will be able to purchase all their needs, and most of their wants. And, not one person has a say in how many and what they can buy, unless the government claims that product illegal. Nevertheless, if someone is unable to find a successful job, or any job at all for that matter, they will struggle to buy their needs, and probably will not be able to have many of their wants. Therefore, if someone has enough money, they are able to buy food and medical care, and they can get a new luxury car. They can also go to college, get an a good education, get a good job, and then end up with even more money. However, if they do not have enough money, they may starve themselves, not have medical care, and may be forced to ride the bus or walk. They cannot get enough money to go to college, hence not ending up in a better
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