Question

In the following statements, features that distinguish the Soviet economy from that of a capitalist country like the US are given. Choose which of these statements is/are true?

1. There was an absence of unemployment in the Soviet Union.
2. Land and productive assets were owned by the state only.
3. Soviet Union industries produced every domestic product from pins to cars, whose quality might not match that of the west technology.

विकल्प

• i, ii, iii

• ii & iii

• iii only

• i & iii

Answer 1

i, ii, iii

Explanation:

The following characteristics distinguish the Soviet economy from that of a capitalist country like the United States:

1. To connect its most remote areas, the Soviet economy had a complex communication network, vast energy resources, and an efficient transportation sector.
2. Soviet Union industries manufactured everything from pins to automobiles, though the quality may not have been on par with western technology.
3. The Soviet Union guaranteed a basic standard of living for all of its citizens. As a result, the government-subsidized basic necessities such as health care, education, children, and other welfare programs.
4. In the Soviet Union, there was no unemployment.
5. The state was the sole owner of the land and productive assets.