Which one of the following is not the characteristic of capitalism ?

Capitalism:

1. Capitalism is identified with a system of unfettered individual enterprise.
2. That is a system where economic and social relations are ruled by contract, where men are free agents in seeking their livelihood, and where legal compulsions and restrictions are absent.
3. Thereby capitalism is made virtually synonymous with a regime of laissez-faire or free competition. 
4. Capitalism in its purest form is a society in which the market sets prices for the sole purpose of profits and any inefficiency or intervention that reduces profit making will be eliminated by the market. 

Main Characteristics Of Capitalist Economies: 

1. A Two-Class System - Capitalist Class And Working Class
2. Profit Oriented (Capital Accumulation)
3. Minimal Government Intervention
4. Competitive Market
5. Price System

In Capitalism, the country's trade and industry are controlled by private owners for profit, rather than by the state. Thus, Option 2 is not a characteristic of Capitalism.