Reduce All Fractions to Their Simplest Forms

question 10

Short Answer

Reduce all fractions to their simplest forms. Convert all improper fractions to mixed numbers. Provide answers in the following format:
Fraction: 3/4
Mixed number: 1 5/8
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Definitions:

Private Sector

Refers to the part of the economy that is owned, operated, and funded by private individuals or companies, as opposed to the government.

Majority Voting

A decision-making process where the option that receives the most votes from participants wins, often used in elections and organizational decisions.

Negative Externalities

Costs incurred by third parties not directly involved in an economic activity, for example, pollution affecting non-participating individuals.

Economically Inefficient Outcomes

Situations where resources are not allocated optimally, resulting in lost potential utility or value.