The Soviet Economy
Unlike the economy of Canada the U.S.S.R.'s economy was centralized. The
government owned and
operated almost all the businesses and industries. They set the quotas,
terms of activity and prices
for all goods. In this system there are many microeconomic (see
earlier) inefficiencies. There are
shortages and gluts within the system. The economy did
work for quite awhile and some countries
are still able to survive using this type of
planned economy.
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