An economy with only the household and firm sectors is called:

Name: An economy with only the household and firm sectors is called:
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Quizplus · Accepted Answer

An economy with only the household and firm sectors is known as a private economy since it is entirely driven by private households and firms without interference from the government. A mixed economy is one that involves both government and private sectors, while a command economy is where the government controls all aspects of economic activities.

An Economy with Only the Household and Firm Sectors Is