The transition of the former Soviet Union from a planned economy to a market economy would require the elimination of price controls, the privatization of public property, and the promotion of business competition.

Question

Quizplus · Accepted Answer

This statement is true. The transition from a planned economy to a market economy involves the removal of price controls, privatization of state-owned enterprises, and the introduction of competition to stimulate economic growth. This process was undertaken in the former Soviet Union during the 1990s, although the results have been mixed.

The Transition of the Former Soviet Union from a Planned