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Market Reform
a strategic change in economic policies and regulations intended to create a more competitive and efficient market environment.
Market-Oriented Economy
An economic system where supply and demand determine the production of goods and services, with minimal government intervention.
Soviet Union
A former federal socialist state in Eastern Europe and Asia, existing from 1922 until its dissolution in 1991, known for its centralized economy and government.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be consumed by many people simultaneously without reducing its availability to others.
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