Which of the following is not a characteristic of capitalism?
A) Private ownership of the factors of production.
B) Businesses make their own product and price decisions.
C) Public ownership of the factors of production.
D) Decentralized decision-making using markets.

Question

Quizplus · Accepted Answer

Public ownership of the factors of production is not a characteristic of capitalism. Capitalism is based on private ownership of the factors of production, which includes property, labor, and capital. Decisions are made by businesses based on market demand and supply, rather than central planning. This leads to a decentralized decision-making process and competitive markets.

Which of the Following Is Not a Characteristic of Capitalism