All countries have mixed economies. Identify 2 ways the US exhibits elements of a Market Economy and 2 ways the US exhibits elements of a Command Economy. Explain your answer in complete sentences.

Explanation:

To begin, note that the term market economy is used to basically describe an economy where what is been produced and the prices of the products are determined not by the government but by privately owned businesses (through demand and supply factors).

While the term command economy refers to a situation where the government alone decides prices, what to produce and how much to be produced.

Market Economy example:

Command Economy example:

the new jersey plan most resembles the articles of confederation.