Question

Give an example of one good or service produced in the United States using the market model. Justify your example using content from the poster.

Answer 1

Answer:

Oil is the good produced in the United States of America by using the command economic model.

A command economy is an economic system where the government decides the quantity of goods produced as well as the price of the goods. In his type of economy, the prices of goods are fixed and does not depend on the demand and supply. The United States of America produced oil according to the demand of the country's needs of oil so that's why we can conclude that oil is the good that follows the model of command economy.