What kind of economic system does the United States have?

There are a number of different types of economies
throughout the world.  Economic systems determine how the people of a country buy and
sell goods and how production processes are controlled.  The United States has a mixed
economy based primarily on principles of private ownership.  Individuals own the goods
and services that they make or provide.  Furthermore, private businesses control factors
of production.  This is known as a free enterprise system.
 

In addition, the United States' economic system is often
characterized as a 'market system' because it is controlled by the market.  The market
is where producers and consumers come together in the exchange of goods and services.
 This interaction drives prices in the United States, unlike in many other countries
where prices for certain goods are set by the government.
 

The reason that the United States' economic system is
considered to be a mixed system is because the government is involved in the regulation
and guidance of the United States' economy.  Although it is more 'hands-off' than in
some countries, the U.S. government still plays a significant role in the country's
economy.  There are a number of services which are provided by the government in the
United States in lieu of private business.  These services include:  education, roads,
postal systems, policing, the court system, and more.