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The Soviet Planned economy was centrally controlled from Moscow and essentially dictates to various industries- Produce so many million tons of steel , etc. There was nothing resembling competitve pricing ( as is so common with automobiles in the Us), or name-brand advertising.Moscow pulled the strings and controlled all actions- economy wise. There was, give them their due, a certain security in this system, and a safeguard against shortages caused by, say price Gouging, as we would say in the West. Generally these drives took the form of Five-Year Plans- but there were also 7 Year plans for improving specific industries- a 7 year plan for Mass transportation, for example.

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βˆ™ 13y ago
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βˆ™ 7y ago

The Soviets is a communist government which means that the government owns the economic sectors and there isn't a foundation for private property and investment in business.

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paulbenn

Lvl 13
βˆ™ 3y ago

The economic system in the USSR was state capitalism.

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Q: How did the soviet economic system?
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