The economy of the United States is run on a free enterprise system in which

The free enterprise system is an economic system of private ownership and capitalist market economy in which the laws of supply and demand determine the prices of goods and services. It is a system in which businesses, supported by individual investors and guided by prices for their goods and services determined by the competitive forces of the market, determine how resources will be allocated (investment, production, and consumption). This system encourages the freedom of private enterprises to succeed or fail without government interference or restrictions. It is characterized by an open market in which consumers are free to choose the goods and services they wish to buy, while businesses are free to produce and sell those goods and services. The free enterprise system is the foundation of the United States economy and has been a major contributor to economic growth, market efficiency, and consumer choice in the US.