Question

Between 1918 and 1921, the government of the Soviet Union took control of all land, industry, banking, and shipping. This is an example of WHICH kind of economic transformation? A) privatization B) capitalization C) nationalization D) municipalization

Answer 1

Nationalization is the kind of economic transformation and the example for the given statement.

Answer: Option C

Explanation:

During the period of Russian Civil War, the government followed a war communism type of government from the periods 1918 to 1921. Under this type of governance, all the industries were nationalized i.e., control was transferred to the government from private parties.

This was controlled by a strict management system from the central government. This was done by the Bolshevik government. However, people argued saying that this was done to eliminate poverty among the private parties.