All of the following are characteristics unique to the capitalistic or private enterprise system EXCEPT:Group of answer choicesprofitsScratchfree choicesScratcheconomies of scaleScratchownership of propertyScratchcompetitionScratch
Question
All of the following are characteristics unique to the capitalistic or private enterprise system EXCEPT:Group of answer choicesprofitsScratchfree choicesScratcheconomies of scaleScratchownership of propertyScratchcompetitionScratch
Solution
The characteristic that is not unique to the capitalistic or private enterprise system is "economies of scale". Economies of scale can occur in any type of economic system, including socialism and communism, not just capitalism. It refers to the cost advantage that a business obtains due to expansion, with costs per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.
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