What is the economic system in the United States?

The economic system in the United States is classified as a capitalist economy, which is characterized by private ownership of property and the means of production. In this system, individuals and businesses are free to operate for profit, and the distribution of goods and services is determined by competition in a free market. This structure encourages innovation and efficiency, as companies strive to meet consumer demands and capitalize on market opportunities.

While the U.S. does have certain elements of regulation and social programs, which may suggest characteristics of a mixed economy, the foundational principles are rooted in capitalism. This includes minimal government intervention in economic activities, allowing the market to dictate supply and demand. Thus, the correct answer reflects the predominant capitalist nature of the U.S. economy.