One has to balance the energy requirements, duration, and complexity (and mass) of the fuel system.
Pure solids (fuel and oxidizer are intimately mixed) and the duration is limited by the mass of material and burn rate. They are generally high thrust, low Isp.
Pure liquid requires pressurized and possibly cryogenic storage, which adds to the fixed mass, as well as propellant mass.
Hybrids liquid(oxidizer)-solid(fuel), air(oxidzer)-solid(fuel) are probably desirable where safety is an issue. Liquid hydrogen is problematic and requires a pretty secure storage and handling system. I suspect hybrids have limited application.
The figure of merit for a propuslion system is the kW(thrust) / kg (mass of system) - a kind of specific propulsive energy.
Basically the goal is to minimize mass and maximize energy, but in doing so, one pushes the materials closer to their technical (physical) limits, i.e. decreased margin to failure.