The question was straightforward and popular. Majority of the candidates attempted the question and scored good marks. They were able to define capitalism as economic system where the means of production, distribution and exchange of goods and services are handled by private individuals.
A few also scholarly defined it as a political ideology and they were handsomely rewarded.
However, a few weak candidates failed to remember the features of Capitalism. They scantily listed a few points. This retarded their good performance in the (a) part.
The overall candidates’ performance in the question was average.
Some of the answers left out by candidates in the (b) part included:
- the businesses are established to make profits;
- there is no limit to ownership of property;
- there is competition and economic rivalry;
- it operates a free market economy;
- it makes for specialization in various occupations, etc.