Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Environment and International Business Concepts and elements of business environment Economic environment
Which one of the following is not the characteristic of capitalism ?
1
Individuals and associations behave with economic motive of maximising their profit with least sacrifice or cost.
2
The country’s major means of production are either owned by the Government or their use is controlled by the Government.
3
Producers, consumers and employees compete among themselves, as the resources and opportunities are limited.
4
Price, the invisible hand, plays a predominant role in the flow of the factors of production and consumption.