Directions: Respond to the questions or statements below using the vocabulary words shown in parentheses. 2. Why has an economic system run solely by workers and citizens never been realized? (communis)

3. What is one of the first steps a nation takes in transitioning from a non-capitalist economy to a

free market economy? Explain the importance of this step. (privatization)

4. How did the policy implemented by Soviet leader Mikhail Gorbachev help to move the Soviet

Union toward a transition economy? (perestroika)

The answers are given in the order respective to the given information. Kindly go through them closely.

2. Communis
A solely running economic system has never been realizedThis type of economy is associated with Communism, which is the polar opposite of capitalism. Karl Marx and Frederick Engels proposed communism as an ideal type of government in which the economy serves the people's interests. However, dictators – not the people – have ruled countries with injustice and oppression in the actual world. That was the case in Cuba with Fidel Castro or the Soviet Union with Joseph Stalin.3. Privatization
The first steps from a non-capitalist economy to become a free market economyPrivatization is one of the most crucial processes. Privatization means that all state-owned enterprises and factories are sold to businessmen and private companies so that they can be privately held and the owners can spend new money to make a profit.4. Perestroika
Movement of the Soviet Union toward a transition economy
To help the USSR's economy, Russian President Mikhail Gorbachev introduced the perestroika economic policy. For the first time in the Soviet Union's modern history, this policy enabled private and foreign investment.

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The correct answers to these open questions are the following.

Why has an economic system run solely by workers and citizens never been realized?

Because that kind of economy is considered to be an important component of Communism, the opposite of Capitalism. Communism is an ideal form of government considered by Karl Marx and Frederick Engels, in which the economy serves the interests of the people. However, in real life, there have been dictators -not the people. who rule the countries with injustices and tyranny. That was the case of the Soviet Union with Joseph Stalin or Fidel Castro in the Island of Cuba.

What is one of the first steps a nation takes in transitioning from a non-capitalist economy to a free market economy?  One of the most important steps is privatization. Privatization means that all the companies and factories that were owned by the state are sold to businessmen and private companies so these can be privately owned and the owners can invest fresh money and generate a profit.

How did the policy implemented by Soviet leader Mikhail Gorbachev help to move the Soviet Union toward a transition economy?

Russian leader Mikhail Gorbachev implemented the economic policy called perestroika, to help improve the economy of the USSR. This policy allowed private and foreign investment for the first time in the modern history of the Soviet Union.

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Explanation: