Question

Consider the differences between the economic system of the former Soviet Union and the economic system found today in the Russian Federation. How does the economy of the Russian Federation differ from that of the former Soviet Union?

Answer 1

After the collapse of the Soviet Union, the Russian Federation shifted from a command economy to the global market economy. Today, the Russian Federation operates under a market economy. For example, under the command economy of the Soviet Union, the rich deposits of oil found in Russia were drilled and owned by the Soviet government. In the market economy of the Russian Federation, however, wealthy Russian corporations drill and sell the oil to domestic and foreign consumers.

Step-by-step explanation:

plato/edmentum - sample answer

Answer 2

The correct answer to this open question is the following.

Although there are no options for this question we can say the following.

The differences between the economic system of the former Soviet Union and the economic system found today in the Russian Federation are quite notorious.

The economy of the Russian Federation differs from that of the former Soviet Union in the following way.

The former Soviet Union was a Communist nation ruled in the beginning by military dictator General Joseph Stalin. Stalin was a totalitarian ruler that managed a Communist economy. The state decided what to produce when to produce, the number of products to be produced, and the price. Workers were paid low salaries with no incentives.

On the other hand, the Russian economy of today is totally different. Russian leader Mikhail Gorbachev implemented in the 1900s a series of reformations that allowed Russian to the incursion into the modern markets. He approved two reformations that changed Russia: perestroika and glasnost.

Perestroika allowed foreign investment in Russia for the first time. Many multinational corporations entered Russia and started to invest money in the country. Glasnost was a reformation that allowed the Russian people to have more liberties. and rights.