Answer:
Step-by-step explanation:
The U.S. government has always played a role in the economic affairs of the nation. Over the course of its history, many services began to come under the influence or direct control of the public sector. During some periods in U.S. history, however, it was closer to a true free-market economy, in which the private sector, or individuals, is unfettered in its economic behavior, actions, and decisions.
A "true" or "absolute" free market economy requires that all property be owned by private individuals and all goods and services be privately provided. Prices are allowed to fluctuate based on supply and demand, and all transactions are voluntary, not compelled, or restricted by the government. This system is also referred to as "pure capitalism" or "laissez-faire capitalism."
Conversely, a mixed economic system has elements of both free markets and centrally planned economic controls by the government. There are several different ways market economies are changed in a mixed economy. Governments might place regulatory restrictions on voluntary transactions in the private market. Private establishments might require government-granted licenses to perform certain activities. Some activities might be banned altogether. Governments might also own public property or provide public services and use tax policy or subsidies to change the price signals in the market. In a mixed economy, many private transactions are allowable but only under conditions subject to the government's goals.
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