Russian Revolution Research Paper

Before the Bolshevik Revolution, Russia was in the traditional economy. Which mean Russia was under-developed country. It both has the advantages and disadvantages. In the traditional economy system, everyone knew the three basic economy questions (what to produce; how to produce; for whom to produce). They produced what their former generation produced. Farming, hunting, and gathering as three basic ways to live were done the same way as the generation before. Also, customs gave the economic decisions that were made. Economic activities were centered round the family or the ethic unit. Needless to say, men and women were given different economic roles and tasks. Men used to produce the product and women had responsibilities on feeding children.

As Russia participated in W.W.I, the traditional economy had no ability to support such a giant country any more. Because of many supplies were sent to the battlefield, basic livings in Russia were more
Also in the domestic market, competition could be found in every industry, the standard of lives will get an amazing improvement.

Costs of switch to a market economy

Russia had a successful switch from command economy to market economy. However, there’re still some problems in market economy that Russia have to face directly.

Externality and domestic reasons affect Russia a lot. Problems such as Pollution, catastrophe, and financial crisis influence Russia’s market economy all the time. The opportunity cost of being a market economy is to have a peaceful and stable commend economy. As the economy became free and transparent in Russia, people can get undesired goods from the market, people can buy things like guns and drugs in the market, which will cause serious social problems. As result from market economy it relies on trading with other countries, once one of countries has financial problems, it will affect others as