The type of economy that the united states operates under is known as mixed economy system.
Mixed economy refers to the combination of a market economy and a traditional economy. The above means that the economy is under the control of private sector and public sector.
Characteristics of a mixed economy are:
1. The government has complete control over public goods such as education, healthcare, policing, defense and infrastructure development.
2. There is freedom for private enterprise and people can start their own business and earn a living.
3. There is freedom to conduct private business but the government does regulate.
Hence, the type of economy that the united states operates under is known as mixed economy system.
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