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Highlight Any One Major Distinction Between the Soviet Economy and the Capitalist Economy. - Political Science

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Highlight any one major distinction between the Soviet economy and the Capitalist economy.

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Solution

Soviet Economy:- It was a planned economy controlled by the state and was based on the principles of equality.

Capitalist Economy:- Based on private ownership and the operation is for profit. Land and productive assets are owned and controlled by the capitalist.

Concept: Introduction of Democratic Politics and Capitalism in Post-communist Regimes
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