The segment of the economic environment comprising independently owned firms that exist to make a profit is called the ________.

Question

Quizplus · Accepted Answer

The private sector is comprised of independently owned firms that aim to make a profit, as opposed to the public sector which includes government-owned and operated entities. The other options (tribal sector and democratic sector) are not commonly recognized terms in economics.

The Segment of the Economic Environment Comprising Independently Owned Firms