WORLD HISTORY

Detailed explanation-1: -Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.

Detailed explanation-2: -Communism is an economic ideology that advocates for a classless society in which all property and wealth are communally-owned, instead of by individuals.

Detailed explanation-3: -The 1917 communist revolution in the Russian Republic, known as the October Revolution and a part of the Russian Revolution. It resulted in the victory of the Bolsheviks and the creation of Soviet Russia, the predecessor of the Soviet Union.

Detailed explanation-4: -A command economy is an economic system where the government has control over the production and pricing of goods and services.

Detailed explanation-5: -Unit 1 The capitalist revolution. Since the 1700s, increases in average living standards became a permanent feature of economic life in many countries. This was associated with the emergence of a new economic system called capitalism, in which private property, markets and firms play a major role.