Which of the following is a characteristic of capitalism?
A) Equality of income.
B) Government decision-making is preferred to decentralized decision-making.
C) Market determination of prices and quantity.
D) Government ownership of all capital.

Question

Quizplus · Accepted Answer

Market determination of prices and quantity is a key characteristic of capitalism. In capitalism, businesses and individuals are free to determine prices and quantities based on supply and demand in the market, rather than having these decisions made by the government. Capitalism also tends to prioritize individual achievement and profit.

Which of the Following Is a Characteristic of Capitalism