Question

In Country B, business owners decide what to produce, how much to produce, and who to produce for. The CEO of Volunteer Audio, one of the leading audio equipment producers in the country, recently decided to increase production levels of the company's newest MP3 player model, and at the same time decrease production levels of their most popular CD player. The reason for the emphasis on MP3 players is that demand for CD players has decreased dramatically as MP3 technology has taken over the market. Simply put, there is more profit to be made in the MP3 market. Which type of economic system is this? * 1 point O Capitalism O Mixed O Command​

Answer 1

Answer: Mixed economy

Explanation:

In a mixed economic system, there is a blending of market economy with elements of a planned economy, free markets with either state, public or private enterprise intervention. In a mixed economy, the produces decide what to sell as regards price, and which is mostly based on production cost.