Answer:
C. Government ownership of the major industries.
Explanation:
The government owning the major industries is not a characteristics of market system. The government plays a limited role instead. Government role is to ensure that the markets are open and working. It ensures equal access to information by making sure no one manipulates the markets.
Other characteristics of market system not mentioned in the question are
1. System of market and prices
2. Motive of self interest.
In the market system, the government has been the supervisor but it has not owed major industries. Thus, option C is correct.
A market system can be characterized as the network of buyers, sellers, and dealers that are operated in an open format. The market system has to be operated under the supervision of the government.
The market system has been a private property that has been operated with the competition. Although the government has been the supervisor but it has not owed major industries. Thus, option C is correct.
For more information about the market system, refer to the link:
https://brainly.com/question/1177139
