What are the post communist countries?

Post-Soviet states

• Armenia.
• Azerbaijan.
• Belarus.
• Estonia.
• Georgia.
• Kazakhstan.
• Kyrgyzstan.
• Latvia.

What type of economy does a communist government have?

Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power. It can move so effectively because it overrides individual self-interest and subjugates the welfare of the general population to achieve critical social goals.

What is a communist economic?

Noun. economic system where the free exchange of goods and services is controlled by individuals and groups, not the state. communism. Noun. type of economy where all property, including land, factories and companies, is held by the government.

What type of economic system did the Soviet Union have?

The economy used by the Soviet Union was a command economy which means that the government controlled all aspects of the economy.

What is shock therapy in post communist regimes?

Answer: DEFINITION of ‘Shock Therapy’ A sudden and dramatic change in national economic policy that turns a state-controlled economy into a free-market one. Characteristics of shock therapy include the ending of price controls, the privatization of publicly-owned entities and trade liberalization.

What is a communist political system?

Communism (from Latin communis, ‘common, universal’) is a philosophical, social, political, and economic ideology and movement whose ultimate goal is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common ownership of the means of production and the absence of social …

What are the characteristics of a communist economy?

Characteristics of Communist System

• Abolition of Private Property.
• Collective Ownership of Means of Production.
• Central Planning.
• Elimination of Unfair Gaps in Incomes.
• Provision of Necessaries of Life.

What type of economy did the Soviet Union have after the Cold War?

The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. The highly centralized Soviet-type economic planning was managed by the administrative-command system.

Which kind of economy is most common today?

mixed economy definition
The mixed economy definition is an economy where both the private market and the government control the factors of production. It is the most common form of economy that exists in the world today.