Question

The American economic system is based on freedom and

Answer 1

The correct answer is C) fairness.

The American economic system is based on freedom and fairness.

Capitalism is the American economic system. It is based on freedom and fairness because it allows every single American to work hard and in a committed way in order to live well or be rich. There is no limit imposed by anyone, just the self-effort of each individual.

The American economic system is characterized by free enterprise, by promoting competition in important industries, by the market system of supply and demand, and by limiting the role of the government in the economy.

In the American system, the Federal Reserve or Fed plays the important role of being the central bank of the United States to oversee the monetary and financial system.