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Mention Any Three Features that Distinguish the Soviet Economy from that of a Capitalist Country like the Us. - Political Science

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Question

Mention any three features that distinguish the Soviet economy from that of a capitalist country like the US.

Solution

The three features that distinguish the Soviet economy from that of a capitalist country like the US, can be summed up as follows:

  1. Soviet economy experienced a complex communication network, vast energy resources and an efficient transport sector to connect its remotest areas.
  2. Soviet Union industries produced every domestic product from pin to cars, whose quality might not match with that of the west technology.
  3. Soviet Union ensured a minimum standard of living for all its citizens. Consequently Government subsidised basic necessities including health, education, children and other welfare schemes.
  4. There was an absence of unemployment in Soviet Union.
  5. Land and productive assets were owned by the state only.
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Solution Mention Any Three Features that Distinguish the Soviet Economy from that of a Capitalist Country like the Us. Concept: What is Soviet System.
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