(Consider This) Which of the following statements is most accurate about the difference between goods produced under the old central planning model of the Soviet Union versus those produced by American capitalism?
A) Soviet markets were purely competitive, while U.S. markets were more monopolistically competitive.
B) Soviet production employed mass production techniques, while American capitalism did not.
C) Soviet production put greater emphasis on efficiency, while American capitalism allowed for much more product differentiation.
D) Product differentiation in the Soviet Union was carefully integrated into the central plan, while differentiation in American capitalism occurs haphazardly and with little forethought.

Question

Quizplus · Accepted Answer

Soviet production focused on efficiency and standardization, while American capitalism allowed for greater product differentiation and customization. This is due to the different economic systems in place - the Soviet Union relied on central planning and state ownership of industries, while the United States had a more market-oriented approach with private ownership and competition driving innovation and differentiation.

(Consider This) Which of the Following Statements Is Most Accurate