text - Geo 182 Midterm Notes Chapter 1- Text book Notes The...

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Geo 182 Midterm Notes Chapter 1- Text book Notes The Socialist System Planned economy Supported by social and political institutions and practices Socialism is best seen as a political economic system ECE and FSU shaped by Marxism- Leninism The Economic System Administered command Economy o An economic system characterized by a complex administrative structure from upper to lower levels to allocate resources Centrally Planned Economy o The state owned economic activity and determined the direction and strategy of economic development o Enterprises were rewarded with achieving goals set by political leadership and punished for failure o The state was responsible for formation and implementation o Enterprises were unable to change plan formation, whether beneficial or not, because they would have endangered plan fulfillment o CPE was designed to meet the needs in the 1930’s Rapid mobilization of resources to develop a large industrial base Designed to meet the needs of Military- industrial complex
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text - Geo 182 Midterm Notes Chapter 1- Text book Notes The...

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