Which of the following is not a major feature of capitalism?

JODHPUR AIIMS SNO-2018

Applied Sociology

Easy

Appeared in: JODHPUR AIIMS SNO-2018

Explanation

Equitable distribution of income is not a characteristic or goal of capitalism. It is a concept more aligned with socialist ideologies.
Capitalism is an economic system where trade, industry, and the means of production are controlled by private owners with the goal of making a profit in a market economy.
The competitive nature of capitalism and the emphasis on private wealth accumulation often lead to significant income and wealth inequality, which is the opposite of equitable distribution.

Option A: Private property is a cornerstone of capitalism. It grants individuals and corporations the right to own, control, and dispose of assets, including land, factories, and capital.
Option B: Competition is a fundamental driver of a capitalist economy. As noted in sociological texts, 'competition is regarded as an ideal economic pattern...the basis for modern economy' (SRC_17844). It encourages efficiency and innovation.
Option C: The profit incentive, or profit motive, is the primary driving force in capitalism. Businesses produce goods and services with the main intention of generating profit for their owners.

Clinical Relevance

Nursing practice connection: This is primarily an exam-oriented knowledge point with limited direct bedside application, so retain Defining features of capitalism as background academic context rather than a clinical decision trigger.
Understanding different economic systems is important in a broader context as they directly influence a nation's healthcare policies and structure.
In capitalist-leaning countries, healthcare is often a mix of private (for-profit) and public sectors, affecting access, cost, and quality of care. Nurses may work in both settings.
A nurse's salary, working conditions, and the availability of resources can be heavily influenced by the economic model of their country and the financial structure of their employer (public vs. private).

How to Approach the Question

First, identify the core concept of the question, which is 'capitalism'.
Second, pay close attention to the negative keyword 'not'. This signals that you must find the option that is an exception or does not fit the definition of capitalism.
Third, recall the fundamental principles of capitalism: private ownership of the means of production, a free market driven by competition, and the pursuit of profit.
Fourth, systematically evaluate each option against these principles. 'Private property', 'competition', and 'profit incentive' are all defining characteristics.
Finally, identify the outlier. 'Equitable distribution of income' is a goal associated with different economic theories, such as socialism, and stands in contrast to the typical outcomes of a purely capitalist system. This makes it the correct answer.

Concept Tested & Keywords

Concept Tested: Defining features of capitalism
Stem keywords: capitalism, major feature
Lead-in keywords: not
Negative lead-in flag: The question asks to identify the option that is NOT a feature of capitalism.

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E6 Applied Sociology for Nurses TK Indrani p. 95-97