GENERAL KNOWLEDGE

Detailed explanation-1: -Expert-Verified Answer. Service to society is not a function of a business. A business is a process of earning money by selling goods and services with the expectation of earning profit.

Detailed explanation-2: -The state or the government does not interfere in the price decision.

Detailed explanation-3: -Capitalism is an economic system where private entities own the factors of production. The four factors are entrepreneurship, capital goods, natural resources, and labor. The owners of capital goods, natural resources, and entrepreneurship exercise control through companies. Individuals own their labor.

Detailed explanation-4: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

Detailed explanation-5: -These include laissez-faire or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism.