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Economic system is the basis for how an economy answers the fundamental economics questions These systems include a market economy, command economy, traditional economy, and

Economic system is the basis for how an economy answers the fundamental economics questions

These systems include a market economy, command economy, traditional economy, and mixed economy.

You also learned the United States, while on the market end of the spectrum, is best described as a mixed economy.

What does that mean? Why is the US best described as a mixed economy? Specifically, provide some examples of goods, services, or markets in the US that act like a market economy and examples that act like a command economy.

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