Which of the following is not considered a characteristic feature of a capitalist economy, where production is largely driven by private decisions and market forces?

Introduction / Context:
This question is drawn from introductory economics and focuses on the features of a capitalist or market economy. In such an economy, the means of production are largely owned by private individuals or firms, and decisions about what and how to produce are guided by profit and market signals rather than central planning. Examinations often test whether learners can distinguish between features of capitalist, socialist, and mixed economies.

Given Data / Assumptions:
The question asks which option is not a feature of a capitalist economy and provides four alternatives:
- Right to private property
- Existence of competition
- Service motive
- Freedom of choice to consumers
The learner is expected to identify which of these does not align with the profit oriented, market driven nature of capitalism.

Concept / Approach:
Typical features of a capitalist economy include the right to private property, freedom of enterprise, competition among firms, and freedom of choice for consumers and producers. The primary motive driving production and investment decisions is profit, not service. A service motive, in the sense of prioritising social welfare over profit, is more commonly associated with public sector or non profit organisations and with socialist economic ideals. Therefore, the correct approach is to recognise that service motive does not fit the standard description of capitalist economy features.

Step-by-Step Solution:
Step 1: Recall that in a capitalist economy, private individuals and companies own resources and seek to maximise profit. Step 2: Recognise that the right to private property is fundamental, allowing individuals to own and transfer assets. Step 3: Note that competition among firms is another key feature, leading to price and quality adjustments in the market. Step 4: Understand that consumers enjoy freedom of choice, selecting among various goods and services based on price and preference. Step 5: Observe that service motive, meaning the primary objective is social service rather than profit, does not align with the typical capitalist focus on profit maximisation. Therefore, service motive is not a standard feature of a capitalist economy.

Verification / Alternative check:
Standard economics textbooks present a list of capitalist economy features that normally includes private property, profit motive, competition, and consumer sovereignty. They may mention that firms provide services and goods, but the underlying motive is profit. In contrast, when describing socialist or welfare oriented systems, texts emphasise service motive and social welfare as leading objectives. Because the list of capitalist features rarely includes service motive as a central principle, and instead highlights profit motive, it is clear that service motive is the odd one out among the options given.

Why Other Options Are Wrong:
Right to private property: This is a core feature of capitalism, allowing ownership and transfer of land, capital, and other resources by private individuals and firms.
Existence of competition: Capitalist markets rely on competition between firms to set prices and improve quality; this is a defining characteristic.
Freedom of choice to consumers: Consumer sovereignty, where buyers are free to choose among various products, is an essential aspect of a market economy.

Common Pitfalls:
Some learners confuse service motive with the idea that firms provide services and goods, and wrongly assume that this makes service motive a feature of capitalism. Others may mix up the service motive associated with public sector or welfare states with the profit motive that drives private firms. To avoid this confusion, remember that when economists list the fundamental motives in capitalism, they emphasise profit motive rather than service motive.

Final Answer:
The option that is not a characteristic feature of a capitalist economy is the service motive.