INTER WAR YEARS 1919 TO 1939
COLLAPSE OF THE SOVIET UNION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a traditional economy
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a command economy
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a free-market economy
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laissez-faire economics
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Detailed explanation-1: -Gorbachev brought perestroika to the Soviet Union’s foreign economic sector with measures that Soviet economists considered bold at that time. His program virtually eliminated the monopoly that the Ministry of Foreign Trade had once held on most trade operations.
Detailed explanation-2: -In the coup’s wake, the Soviet Union dissolved against Gorbachev’s wishes. After resigning the presidency, he launched the Gorbachev Foundation, became a vocal critic of Russian presidents Boris Yeltsin and Vladimir Putin, and campaigned for Russia’s social-democratic movement.
Detailed explanation-3: -Mikhail Gorbachev introduced perestroika and glasnost as well-intentioned reforms to transform the Soviet Union. Just six years after Mikhail Gorbachev came to power as General Secretary of the Communist Party and introduced reforms, the Soviet Union collapsed and newly formed independent nations arose from the ashes.
Detailed explanation-4: -Seeking to bring the Soviet Union up to economic par with capitalist countries such as Germany, Japan, and the United States, Gorbachev decentralized economic controls and encouraged enterprises to become self-financing.