Ours Is a Mixed Economy Because There Is a ______________________

question 49

Short Answer

Ours is a mixed economy because there is a ______________________ sector and a _______________ sector.

---

Definitions:

Competitive

Relates to a market situation where various sellers vie to attract buyers by offering better conditions, prices, or qualities of goods and services.

Many Buyers

A market condition where numerous consumers are present, contributing to competition and demand for products.

Many Sellers

A characteristic of competitive markets where there are numerous suppliers offering similar or identical products, enhancing consumer choice.

Vanilla Ice Cream

A popular flavor of ice cream made primarily with vanilla extract.