CA Foundation Exam  >  CA Foundation Questions  >  Which of the following is not a feature of a ... Start Learning for Free
 Which of the following is not a feature of a capitalist economy?
  • a)
    Right to private property 
  • b)
    Restrictions on consumers Right to choose
  • c)
    Profit motive
  • d)
    Freedom of enterprise
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following is not a feature of a capitalist economy?a)Righ...
Not a feature of a capitalist economy: Restrictions on consumers' right to choose

Introduction:
Capitalism is an economic system in which private individuals or businesses own and operate the means of production, distribution, and exchange of goods and services. It is characterized by the following features:

Right to private property:
The right to private property is one of the fundamental features of a capitalist economy. Individuals have the right to own and control property, including land, buildings, and other assets.

Profit motive:
The profit motive is another crucial feature of a capitalist economy. Individuals and businesses are motivated by the desire to make a profit. This drives innovation, efficiency, and competition.

Freedom of enterprise:
Freedom of enterprise is the right of individuals to start and operate their businesses without undue interference from the government. This feature encourages entrepreneurship, innovation, and competition.

Not a feature of a capitalist economy: Restrictions on consumers' right to choose:
One of the essential aspects of a capitalist economy is consumer sovereignty. Consumers have the right to make choices about what they buy and how much they are willing to pay for it. The market responds to these choices by producing goods and services that meet consumer demand.

In a capitalist economy, there are no restrictions on consumers' right to choose. Consumers are free to buy whatever they want, from whomever they want, and at whatever price they are willing to pay. The market responds to these choices by producing goods and services that meet consumer demand.

Conclusion:
In conclusion, capitalism is an economic system characterized by the right to private property, the profit motive, and freedom of enterprise. However, it does not restrict consumers' right to choose. Capitalism encourages competition, innovation, and entrepreneurship, and it has been successful in creating wealth and prosperity in many countries around the world.
Free Test
Community Answer
Which of the following is not a feature of a capitalist economy?a)Righ...
B
Explore Courses for CA Foundation exam
Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer?
Question Description
Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following is not a feature of a capitalist economy?a)Right to private propertyb)Restrictions on consumers Right to choosec)Profit motived)Freedom of enterpriseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev