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Many people in the United States tout the freedom of our market system. Explain, in your...

Many people in the United States tout the freedom of our market system. Explain, in your own words, why the United States is best described as a mixed economy rather than a market economy.Specifically give an example of elements of the US economy that don’t fit the description of a market economy.

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Answer #1

The mixed economy is characterized by both the presence of the government sector and private sectors. In the US economy, we can see that both the private sector and the government sector play a critical role in economic activities.

There are many areas where private sectors do not take part, such as road, transport, and defense. Further, the government makes expenditure on health and education. These activities of government make it the most robust participant of economic activities.

further, the Government makes provisions of social securities for the underprivileged class of society. During the economic recession and depression, the role of government has increased significantly. The government made a huge expenditure to stimulate aggregate demand in the economy. Thus, role of government is mammoth in the economy.

Thus, it would not be right to say that the American economy is totally market-driven only. No economic system can work efficiently without the role of government. Hence, we can say that there are features of mixed economy in economic system of USA.

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