Question

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 1

Hint: Under many systems of government and in several different periods, locations and cultures, market economies have existed. In a phase that led to the Industrial Revolution, new capitalist societies emerged in Western Europe, characterised by universalization of money-based social relations, a consistently broad and system-wide class of workers who would work for wages (the proletariat) and a capitalist class that controls the means of production.

Complete answer: Capitalism is an economic, social and political structure where the trade and business of a nation are dominated by private individuals. There is little or no influence by the government over the market. The United States is a capitalist nation. Human rights, private ownership and free enterprise are prioritised under capitalism.
Capitalism is an economic structure based on the private ownership of, and operation for the profit of, the means of production. Capitalism's core features include the accumulation of capital, open markets, the system of rates, private property and the recognition of property rights, free trade and wage labour. In a capitalist market economy, all owners of money, property or production capacity in the capital and financial markets decide decision-making and investment, while prices and the distribution of goods and services are primarily determined by competition in the markets for goods and services.
Options A, B and C can be eliminated easily.
Therefore, option D is correct.

Note: Through the exploitation of the majority working class and its labour, Capitalism concentrates power in the hands of a capitalist minority class, prioritises profit over social goods, natural resources and the environment, drives inequality, corruption and economic instability, and many are unable to access its supposed benefits and freedoms, such as free investment.