question_answer

Read the passage given below carefully and answer the following questions:

Each of these countries was required to make a total shift to a capitalist economy, which meant rooting out completely any structures evolved during this period. Above all, it meant that private ownership was to be the dominant pattern of ownership of property. Privatization of state assets and corporate ownership patterns were to be immediately brought in. Collective farms were to be replaced by private farming and capitalism in agriculture. This transition ruled out any alternate or 'third way'.

(i) Name any two countries which were required to make a total shift.

(ii) Why were the collective farms to be replaced by private farming?

(iii) Since the 'third way' had been ruled out, what were the only two ways of controlling the economy?

 

Answer:

(i) Russia, Georgia, Uzbekistan or any other country created after disintegration of USSR.

(ii) Due to the end of state controlled economy and introduction of privatization and liberalization.

(iii) Two ways-State controlled economy (socialism) Capitalism.