Communism
This is an example of central planning in which everything is directed by the government. These types of economies tend not to do well because as the question states the incentive for individuals is taken away.
Hello!
Mikhail Gorbachev was the last soviet leader. He had the control of the Soviet Union between 1985 and 1991 and started two great reforms:
The perestroika: economics measures to recover the Soviet Union. For example: reduced the investments in military and opened the market gradually.
The glasnost: the "freedom of speech" and government transparency to the people.
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To explain phenomna power. (Idk how to exactly spell phenomna so im srry if its wrong.
Catherine the Great, was an empress of Russia who ruled from 1762-1796,