Which of the following statements are true/ false?<br>1. In the market economy, the prices are determined by the level of demand and supply in the market.<br>2. Mixed economy is an economic system in which both the private and public sector have equal roles to play.<br>3. Planned economy is also known as a centralised economy, controlled economy or command economy.<br>4. In the market economy, governments do not have much role to play.

Correct Answer: 1, 2, 3 and 4 are true