What is the economic system of the United States?

In the United States, most businesses are privately owned and people can choose where to work, what to buy, and how to invest. Prices and production are mostly guided by supply and demand, with the government setting rules and providing some public services.

In the United States, most businesses are privately owned, and prices are usually set by buyers and sellers rather than the government. People can choose what jobs to take and what goods to buy, and companies compete with each other. The government still sets some rules to protect the public and keep markets fair.