Capitalism was chosen as the economic system for the newly formed United States because it was the easiest way to become competitive with Britain.

Question

Quizplus · Accepted Answer

The United States did not formally choose capitalism as its economic system at its founding; rather, the country evolved into a capitalist economy over time due to a variety of factors, including the availability of land, the pursuit of economic independence, and the growth of trade and industrialization.

Capitalism Was Chosen as the Economic System for the Newly