Which of the Following Is Not Characteristic of the Social

question 19

Multiple Choice

Which of the following is not characteristic of the Social model of development used in the Soviet Union in the aftermath of the Bolshevik Revolution?

• A) military development
• B) central planning
• C) focus on heavy industry
• D) collectivized agriculture

Distinguish between households and firms within an economic framework.

Grasp the concept of factors of production and their relevance in economic activities.

Comprehend the primary goal of firms and the concept of profit.

Understand the circular flow of income and product in an economy.