Which of the following is not a characteristic of Capitalism?

A. Competition and consumer sovereignty

B. Pursuit of personal profit

C. Private ownership

D. Government control of the economy

Answer: D. Government control of the economy

In capitalism, the economy is run by private individuals or organizations and not by the government. It is usually referred to as a free market and all forms of investments are determined or influenced by private decisions including the production, and prices, and distribution of goods. All of these are determined by a free market’s competition. Most developed countries today practice a capitalist system of economy. Some of them include the United Kingdom, Sweden, Canada, Germany, etc.

Economics

3 years ago

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