Question

What kind of economy was instituted under Joseph Stalin?

Answer 1

The kind of economy that was instituted under Joseph Stalin is a command economy. A command economy is a type of economy where the government, rather than free market, determines what goods should be produced, how much should be produced and the price at which the goods are offered for sale.Joseph Stalin was the leader of the USSR from 1924 to 1953. He realized that his country was going to no where without industrialized, thus found the need of creating a command economy.