Economic systems are identified by how they answer the three questions of what, how, and for whom to produce. Similarly, they are theoretical representations of economies found throughout the world that demonstrate the distribution of control between people and the government. The economic systems exist on a continuum, with command economies on one side and the free markets on the other side. The United States has a free market economy but with a notable amount of government intervention, therefore it has a mixed economy. The government acts as a provider and regulator of the United States' mixed economy through setting legal limits and sensible policies for economic functions for the people.

In the United States, decisions are made by individuals acting as participants within the market. T...

abl accord acquir act advantag afford afford-aid aid along although american among amount analyz anoth answer anticip appli arbitr area aspect attempt automobil benefit best boundari busi buyer call capit certain chang characterist charg child child-labor choic choos combin command compani complex consequ consid constitut consum continuum contrast control danger deal decid decis defin definit demonstr desir determin distribut downfal econom economi els emphas enterpris entrepreneur equilibrium essay establish exist expand fact factor failur fall feder found free freedom function given goal good govern grown growth hazard held help howev ident identifi illustr import incent includ increas individu interven intervent invest keep kind knowledg label labor land law learn legal legisl limit local made make market may mix motiv must near new notabl obtain one opinion order own ownership particip payment peopl person place polici possibl potenti power practic price privat privileg produc product profit properti property-land prosper protect provid purchas question rather regul relat represent requir respons restrict right rise risk role rule satisfi secur seiz seller sensibl servic set side similar simpl stabil state success surround system take theoret therefor three throughout today unit unless use various warn wast way wealth well well-funct whatev within world would yet zone