Which of the following option is true? 

In a mixed economy:

a) government and the market together answer the three questions of what to produce, how to produce and how to distribute the goods.

b) resources of the country are owned by both government and private players.

both a and b are true

The correct answer is Option 1: both a and b are true

In a mixed economy:

Government and the market together answer the three questions of what to produce, how to produce, and how to distribute the goods: This means that neither the government nor the market has complete control over the economy. The government may decide what to produce in certain sectors, such as public goods, while the market may determine what to produce in other sectors. Similarly, both government and private businesses can be involved in the production and distribution of goods

Resources of the country are owned by both government and private players: This means that the government owns some resources, such as public enterprises, while private individuals and businesses own others. This mixed ownership structure is a key characteristic of a mixed economy.