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Answer:
The U.S. is a mixed economy. It has both elements of capitalism and socialism. Capitalism lets private corporations and owners decide on the prices of products and allows competition in the market because there is no set price. The aspect of Socialism lets the government help regulate how the business is run in order to set standards. This helps create an equal playing field for everyone so people earn what they work for and don't get paid minimum wage for hard jobs.
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