Question

All of the following are true of capitalism EXCEPT:

Capitalism is an economic system in which the means of production are all or mostly privately owned,
Capitalism has no central planning,
Capitalism has been dominant in the Western world for hundreds of years,
or Capitalism is a system in which production, distribution and income are all determined by the government.

Answer 1

Generally speaking, all of the following are true of capitalism except that "Capitalism is a system in which production, distribution and income are all determined by the government," since this would be referred to a centrally planned economy.