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JAMB Economics 1994 Question 7

Question 7

Economic Systems

In a mixed economy, decisions to produce are taken by

  1. A.men and women acting in their own best interest
  2. B.the government acting in the interest of the country
  3. C.the market women, the labour unions and the employers' association
  4. D.private individuals, organizations and the government
Show the answer and explanation

Answer: D (private individuals, organizations and the government)

Explanation

A mixed economy has both a private sector and a public sector, so production decisions are made by private persons and firms as well as by government.