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Question
Which among the following statements that describe the nature of Soviet economy is wrong?
Options
Socialism was the dominant ideology
State ownership/control existed over the factors of production
People enjoyed economic freedom
Every aspect of the economy was planned and controlled by the State
MCQ
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Solution
People enjoyed economic freedom
Explanation:
The Soviet economy was entirely state-controlled and centrally planned, meaning the government made all decisions regarding production, distribution, and pricing. Because private property was largely abolished and replaced by state ownership, citizens did not possess individual economic freedom or free-market choices.
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