Write four main features of the Soviet Economic System
Soviet Economic System was totally different from Western Economic System. The planned economy was adopted in U.S.S.R. The economy of the state was managed on the basis of state plans for economic and social developments. In the Soviet Union, all economic activities were controlled by the state. All industries were nationalized. In the Soviet Union, there was no private economy and all means of production and distribution were owned and controlled by the state. The citizens were given the Right to work, Right to wages, and Right to rest and leisure.
