McqMate
| Q. |
Which of the following is not a feat tare of a capitalist economy? |
| A. | Right to private property |
| B. | Existence of competition |
| C. | Service motive |
| D. | Freedom of choice to consumers |
| Answer» C. Service motive | |
|
Explanation: Capitalism is an economic system in which each individual in his capacity as a consumer, producer, and resource owner is engaged in economic activity with a large measure of economic freedom. The inspiring force in this system is self-interest and maximization of profit. The decisions of businessmen, farmers, producers, including that of wage-earners are based on the profit motive. |
|
View all MCQs in
Economics (GK)No comments yet