GK
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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None of the above
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Detailed explanation-1: -In a mixed economy, resource allocation is determined by a combination of market forces and government intervention. Private individuals and businesses make decisions based on supply and demand, while the government regulates certain industries and may redistribute resources to achieve social and economic goals.
Detailed explanation-2: -The government has control over a command or planned economy. In mixed economies, the government has some control, while the rest is up to supply and demand.
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.