ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The former Soviet Union had to deal with a number of unique obstacles during the post-Soviet transition including political reform, economic restructuring and the redrawing of political boundaries. The discomfort associated with these changes was not felt the same in each former Soviet republic.

Detailed explanation-2: -The Russian Federation had multiple economic reforms, including privatization and market and trade liberalization due to the collapse of communism. The economy is much more stable than in the early 1990s, but inflation still remains an issue for Russia.

Detailed explanation-3: -Rationing cards and queues, which had become hallmarks of war communism, had disappeared. However, due to prolonged war, low harvests, and several natural disasters the Soviet economy was still in trouble, particularly its agricultural sector. In 1921, widespread famine broke out in the Volga-Ural region.

Detailed explanation-4: -The economy collapsed when the stability conditions required for a successful command system, that had been present in the Soviet Union for seventy years, ceased to hold. These conditions can be defined by the equilibrium of a game of strategy played by a dictator and a producer.