The Panamanian government owns the Panama Canal. Panama has held control over the canal in Central America since the end of 1999. Before that, the United States maintained the canal, although France had worked on the canal project as well.
A market economy is one in which the laws of supply and demand direct the production and prices of goods and services, with little or no government interference. Absent a market economy, government’s can find themselves in a position to control industry, fix prices and rents, or own land.
The Economic System in the United States The Economic System in the United States is known as a mixed economy. This system combines elements of free market capitalism with government intervention. Some economists describe this system as a blend of capitalism and socialism. A Mixed Economy The United States economy operates with private business and […]