The correct answer is: B. The country’s major means of production are either owned by the Government or their use is controlled by the Government.
Capitalism is an economic system based on the private ownership of capital and the means of production. In a capitalist system, individuals and businesses are free to buy and sell goods and services, and to invest in and own property. The government’s role in a capitalist system is to provide a stable environment for businesses to operate in, and to protect the rights of property owners.
Option A is a characteristic of capitalism. In a capitalist system, individuals and businesses are motivated to maximize their profits. This is because profits are a measure of success, and they can be used to reinvest in the business, to pay employees, or to distribute to shareholders.
Option C is also a characteristic of capitalism. In a capitalist system, there is competition among producers, consumers, and employees. This competition drives innovation and efficiency, and it helps to keep prices low.
Option D is also a characteristic of capitalism. In a capitalist system, prices are determined by supply and demand. This means that the price of a good or service will rise if there is more demand for it, and it will fall if there is less demand for it. The price mechanism helps to allocate resources efficiently, and it helps to ensure that goods and services are available to those who want them.
Option B is not a characteristic of capitalism. In a capitalist system, the means of production are privately owned. This means that businesses are free to buy and sell capital, and to invest in and own property. If the government owns the means of production, then it is not a capitalist system.