The economy in Russia is best described as An authoritarian one because its poli
ID: 1133360 • Letter: T
Question
The economy in Russia is best described as
An authoritarian one because its political system is totally authoritarian.
A social market one because older citizens receive a steady pension.
A mixed economy because a healthy mix of government and private industry prevails.
A liberal market economy because competition exists in most industries.
An authoritarian one because its political system is totally authoritarian.
A social market one because older citizens receive a steady pension.
A mixed economy because a healthy mix of government and private industry prevails.
A liberal market economy because competition exists in most industries.
Explanation / Answer
The Russian economy was a command economy before 1991 but it has moved to free market economy after the fall of Soviet union in 1991 and after the market reform in 1990, the russRus economy has moved from centrally planned economy to mixed economy. Some important strategic sectors have been kept under government while most of the industry have been privatised.
Hence now Russia is a mixed economy.
Hence option third is the correct answer.
Option third; a mixed economy because a healthy mix of government and private industry prevails.
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