CONCEPT The Small Business Franchise 17 Which of the following is true regarding a mixed market economy? 0 Prices and production of goods are based on supply and demand

Business Jun 07, 2021

CONCEPT The Small Business Franchise 17 Which of the following is true regarding a mixed market economy? 0 Prices and production of goods are based on supply and demand. 0 Central government authority owns and operates certain types of businesses. 0 Some pricing fluctuates while other pricing is controlled by the government 0 Prices and production of goods are determined by a central planning authority.

Expert Solution

Answer

?Some pricing fluctuates while other pricing is...

Explanation

A mixed economy means that part of the economy is left to the free market, and part of it is managed by the government. So, A mixed economy consists of both private and government/state-owned entities that share control of owning, making, selling, and exchanging good in the country. The correct option is 3rd "Some pricing fluctuates while other pricing is controlled by the government".

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