What or Who Were the Soviets

question 32

Multiple Choice

What or who were the soviets?

• A)Local councils of workers and soldiers throughout Russia.
• B)Special committees of the Duma (Russia's parliament).
• C)Field officers of the Bolshevik movement who directed revolutionary forces during 1917.
• D)Non-Russian territories controlled from Moscow during the Russian Revolution.
• E)Terrorists who eventually overthrew the tsarist government of Nicholas II.

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Definitions:

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Homogeneous Products

Goods that are essentially identical, offered by different sellers within a market.

First-mover Advantage

The competitive advantage gained by the initial ("first-moving") significant occupant of a market segment.

Bertrand Duopoly

A market structure in which two companies compete on price, each setting their price independently with the aim of maximizing profit, assuming the competitor's price is fixed.