BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Government
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Consumers
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Based upon customs, beliefs, religion and habits
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Detailed explanation-1: -In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed. In general, market forces prevail in mixed economies.
Detailed explanation-2: -Key Takeaways In mixed economies, the government has some control, while the rest is up to supply and demand. Command economies are characterized by large surpluses and shortages, monopolies, and prices set by the government.
Detailed explanation-3: -The consumer is the one who pays to consume the goods and services produced. As such, consumers play a vital role in the economic system of a nation. In the absence of their effective demand, the producers would lack a key motivation to produce, which is to sell to consumers.