What is the economic system of the United States?

On the 2008 test

The 2008 test asks this as Question 11: “What is the economic system in the United States?”

Answers listed for the 2008 question (2), next to the 2 above. Compare them before you study from an older list.

• capitalist economy
• market economy

Background

The United States has a capitalist, or market, economy, where prices and production are largely set by private buyers and sellers.

From this site's page for 2008 Question 11.

The 65/20 special consideration

Question 12 is one of the 20 questions USCIS marks with an asterisk. An applicant who is 65 or older and has been a lawful permanent resident for 20 years or more may study only those 20; the officer asks 10 of them and 6 correct answers pass.

Answers that get mixed up with this one

These are the wrong options the 2025 practice test puts beside this question. Each one is the correct answer to a different 2025 question.

• Declaration of Independenceanswers Question 9: What founding document said the American colonies were free from Britain?
• One hundred (100)answers Question 21: How many U.S. senators are there?

More Principles of American Government questions

• Question 9: What founding document said the American colonies were free from Britain?Declaration of Independence
• Question 10: Name two important ideas from the Declaration of Independence and the U.S. Constitution.Equality · Liberty · Social contract · Natural rights · Limited government · Self-government
• Question 11: The words “Life, Liberty, and the pursuit of Happiness” are in what founding document?Declaration of Independence
• Question 13: What is the rule of law?Everyone must follow the law. · Leaders must obey the law. · Government must obey the law. · No one is above the law.
• Question 14: Many documents influenced the U.S. Constitution. Name one.Declaration of Independence · Articles of Confederation · Federalist Papers · Anti-Federalist Papers · Virginia Declaration of Rights · Fundamental Orders of Connecticut · Mayflower Compact · Iroquois Great Law of Peace