Asked by Megan Carlson on May 11, 2024
Verified
In the former Soviet Union,nearly all resources were owned by
A) the government.
B) business firms.
C) individuals.
D) foreigners.
Soviet Union
A former federal socialist state in Eastern Europe and Northern Asia, existing from 1922 to 1991, known for its communist form of government.
Business Firms
Organizations involved in commercial, industrial, or professional activities, typically designed to provide goods or services to consumers.
Foreigners
This term refers to individuals or entities that are from a country different from the one in question, often used in the context of economics to discuss foreign investors or workers.
- Develop an understanding of the contrasts between capitalist, socialist, and centrally planned economic frameworks.
Verified Answer
DA
Dollie AujlaMay 16, 2024
Final Answer :
A
Explanation :
In the former Soviet Union, the government had a command economy where they owned and controlled nearly all resources including land, factories, and natural resources. Private ownership was suppressed and individuals did not have the right to own resources.
Learning Objectives
- Develop an understanding of the contrasts between capitalist, socialist, and centrally planned economic frameworks.