Question

Read the given passage carefully and answer the question that follows:

"The collapse of communism was followed in most of these countries by a painful process of transition from an authoritarian socialist system to a democratic capitalist system. The model of transition in Russia, Central Asia and east Europe that was influenced by the World Bank and the IMF came to be known as 'shock therapy'. Shock therapy varied in intensity and speed amongst the Second World countries, but its direction and features were quite similar."

Choose the option that is a feature of communism.

Options

• Multi-party system

• State controlled economy

• Special Economic Zones (SEZ)

• Privatisation of industries and agriculture

Answer 1

State controlled economy

Explanation:

By establishing a classless society where everyone profits from labour and the state controls all property and money, communism seeks to eradicate socioeconomic class conflicts.