Chapter 2, Problem 4DCS

Summary Introduction

To discuss: The type of U.S economy.

Introduction:

Economics is the term used for the study of production, distribution and consumption of resources.

Mixed economy is scene in almost all countries where, countries with capitalist economies are moving towards socialist economies and countries with socialist economies are moving towards capitalist economies.

Capitalist economy is a type of economy where the markets are free and economic decisions are taken by the market forces.

Socialist economy is a type of economy where the major businesses and public utilities are operated by the government.