The Replacement of Private Peasant Farms with Huge State-Run and State-Owned

question 78

Short Answer

The replacement of private peasant farms with huge state-run and state-owned farms was called ________.

---

Definitions:

Deadweight Loss

The economic efficiency is lessened when a good or service does not attain its equilibrium in the free market.

Tax

Compulsory financial charges imposed by a government on individuals and organizations to fund public expenditures.

Good

An item or product that satisfies a want or need, available for sale or trade.

Market Demand

The total quantity of a good or service that all consumers in the market are willing and able to purchase at different prices.