There are many different types of economic systems used throughout the world.
Some examples are socialism, communism, and capitalism.
The United States has a capitalistic system. Capitalism Capitalism is an economic system where capital goods are owned privately or corporately through private investment decisions rather than state control. It is distinguished by the determination of prices, production, and distribution of goods through competitive markets. Since the U.S. uses a capitalistic system, it stresses the use of markets for allocating goods and the effective use of resources. However, not all markets are competitive and the government does interfere in many instances.