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Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion?
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Class 12th Pol science chapter the end of bipolarity Question: write t...
Introduction:
The Soviet economic system was characterized by central planning and state ownership of the means of production. It was based on the principles of socialism and aimed at achieving economic equality and social welfare for all citizens. The system was in place from the establishment of the Soviet Union in 1922 until its collapse in 1991.
Four main features of Soviet economic system:
Central Planning: The Soviet economy was centrally planned, with the government setting production targets, prices, and distribution of goods and services. This system was meant to eliminate competition and ensure that resources were allocated according to the priorities of the state.
State Ownership: The state owned and controlled the means of production, including factories, farms, and natural resources. This allowed the government to direct economic activity and prioritize industries considered crucial for national development.
Price Controls: Prices of goods and services in the Soviet Union were fixed by the government to prevent inflation and ensure affordability for all citizens. This led to shortages of some goods and surpluses of others, as prices did not reflect supply and demand.
Lack of Incentives: In the Soviet economic system, there was little incentive for individual initiative or entrepreneurship, as resources were allocated by the state and profits were not a primary motivation for production. This lack of incentives contributed to inefficiency and a stagnant economy.
Conclusion:
Overall, the Soviet economic system was characterized by central planning, state ownership, price controls, and a lack of incentives for individual innovation. While it aimed to achieve economic equality and social welfare, the system ultimately proved unsustainable and contributed to the collapse of the Soviet Union in 1991.
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Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion?
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Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion?.
Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Class 12th Pol science chapter the end of bipolarity Question: write the four main features of Soviet economic system? Write this question with introduction and conclusion?.
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