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Which of the following is NOT a characteristic of a capitalist economy as defined in the chapter?
ALand owned collectively by tribal communities
BPrivate ownership of means of production
CProduction for sale in the market
DWage labour bought and sold at a price
Answer & Solution
Correct answer: A. Land owned collectively by tribal communities
Capitalist economies feature private ownership, market-based production and wage labour. Tribal collective land ownership is given as an example of NON-capitalist economic organisation.
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