Soviet Economic History and Reforms

The video explores the economic history of the Soviet Union, from its formation after the Russian Revolution to its collapse in 1991. Initially, the USSR experienced rapid growth due to centralized planning and industrialization. However, mismanagement of resources, overly ambitious targets, and excessive spending on military and space races led to economic stagnation. Gorbachev's reforms, known as Perestroika, aimed to decentralize the economy but inadvertently contributed to the USSR's dissolution. Post-collapse, Russia adopted a mixed economic system, moving away from a command economy.

What event marked the beginning of the Soviet Union?

• The Russian Revolution of 1917

• The Cold War

• The Industrial Revolution

• The Space Race

What was the primary economic strategy used by the Soviet Union to achieve rapid growth?

• Five-year plans

• Free market policies

• Foreign investments

• Decentralized planning

What was a key feature of the Soviet command economy?

• Decentralized decision-making

• Total government control over industries

• High levels of private entrepreneurship

• Flexible market prices

What was a major factor that led to the slowdown of the Soviet economy?

• Resource mismanagement

• Excessive foreign trade

• Lack of industrialization

• Over-reliance on agriculture

How did the Soviet government respond to industries that failed to meet targets?

• Increased their resources

• Reduced their resources

• Privatized them

• Closed them down

Which of the following was NOT a reason for the Soviet Union's economic challenges?

• Overly ambitious targets

• High levels of innovation

• Excessive spending on arms and space race

• Mismanagement of resources

What was the name of the economic reforms introduced by Mikhail Gorbachev?

• Glasnost

• Perestroika

• Stalinism

• Détente

What was one of the unintended consequences of Perestroika?

• Strengthening of the Soviet economy

• Increased central control

• Dissolution of the Soviet Union

• Expansion of the Soviet territory

What happened to the Soviet Union in late 1991?

• It formed a new union with China

• It expanded its territory

• It collapsed into 15 separate states

• It became a capitalist economy

What type of economic system did Russia adopt after the fall of the Soviet Union?

• Feudal economy

• Purely socialist economy

• Mixed economy

• Command economy