The End of BipolarityClass 12 Contemporary World Politics NCERT Solutions

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Q1Exercises

Which among the following statements that describe the nature of Soviet economy is wrong? a. Socialism was the dominant ideology b. State ownership/control existed over the factors of production c. People enjoyed economic freedom d. Every aspect of the economy was planned and controlled by the State

Solution

c. People enjoyed economic freedom
Explanation: The Soviet economy was fundamentally based on the principles of socialism and state control. The state owned and controlled all factors of production, including land and productive assets. The economy was centrally planned, meaning the government decided what to produce, how much to produce, and for whom. This system did not allow for economic freedom for individuals, as private property was abolished and market forces were non-existent. Therefore, the statement that people enjoyed economic freedom is incorrect.