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Question
Which one is not a characteristic of capitalist economy?
Which one is not a characteristic of capitalist economy?
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Solution
The correct option is A Collective ownership
Collective ownership refers to the joint venture where jointly the private parties as well as the government run a business for personal gains as well as social welfare. A capitalist economy is the one where the ownership of economy's resources is in the hands of the private sector. Thus, collective ownership is not possible in a capitalist economy.
Collective ownership refers to the joint venture where jointly the private parties as well as the government run a business for personal gains as well as social welfare. A capitalist economy is the one where the ownership of economy's resources is in the hands of the private sector. Thus, collective ownership is not possible in a capitalist economy.
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