In a mixed market economy, property owned by the government is typically classified as:

• A. club goods
• B. common resources
• C. public goods
• D. private goods

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the definitions of the types of goods in microeconomics. Public goods are characterized by being non-excludable and non-rivalrous, meaning no one can be excluded from using them, and one person's use does not reduce availability to others.
2. Step 2: Recognize that club goods are excludable but non-rivalrous, common resources are non-excludable but rivalrous, and private goods are both excludable and rivalrous.
3. Step 3: Consider the nature of government-owned property in a mixed market economy, which often includes goods and services provided for the public benefit without exclusion or rivalry, such as national defense, public parks, or street lighting.
4. Step 4: Match the characteristics of government-owned property to the definitions of the goods types to determine the correct classification.
5. Step 5: Conclude that government-owned property in a mixed market economy is typically classified as public goods because they are generally non-excludable and non-rivalrous.