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| Page | 32/76 | | Date | 27.08.2021 | | Size | 418.5 Kb. | | #57238 |
| SS1 GovernmentFeatures of Capitalism
Private ownership of the means of production is allowed
There is minimum government interference in economic activities.
The main motive of entering or establishing business is for profit
Consumers have choices in products and services.
The society is divided into two classes namely the bourgeoisie (capitalists or owner of factors of production) and the proletariat(workers).
There is high exploitation of the poor
There is high degree of competition in all spheres of life which improves the quality of goods produced
Wealth, goods and services are unequally distributed
The quantity and quality of goods to be produced and their prices are determined by the owners of means of production.
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