Economic Systems and Government
A country's economic system, meaning how it organizes production, trade, and the ownership of resources, is closely tied to its government: in a market economy, most economic decisions are made by private individuals and businesses responding to supply and demand, with government playing a more limited regulatory role; in a command economy, the government itself makes most major economic decisions, like what to produce and at what price; and most real economies, including the United States', are mixed economies that combine significant market activity with real government involvement, like regulation, public services, and taxation. No modern economy is purely one type or the other.
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