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DEFINITION :-</h3>
Federalism provides a way for different groups of people in different parts of the country to live together. ... Federalism provides ways by which these different groups share power over common interests, but it also provides for these groups to have a level of autonomy vis-à-vis central state institutions.
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KEY FEATURES OF FEDERALISM:</h3>
- There are two or more levels (or tiers) of government.
- Different tiers of government govern the same citizens, but each tier has its own jurisdictionin specific matters of legislation, taxation and administration.
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Answer:
The basis of the American economy is a capitalistic environment in which people have a free market to encourage competition and prevent complete control over any one industry. The basis for any persons economy is trade and a free market in which they can buy and they can sell.
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Explanation: