| A | B |
|---|
| socialism | economic system in which government owns some factors of production and has a role in detemining what and how goods are produced. |
| communism | economic and political system in which factors of production are collectively owned and directed by the state;theoretically classless society in which everyone works for the common good. |
| collectivization | forced common ownership of factors of production. |
| gosplan | central planning authority in former Soviet Union that devised and directed Five-Year plans. |
| state farms | large farms owned and operated by the state in the former Soviet Union. |
| collective farms | small farms in the former Soviet Union owned by the state, but operated by families who share in some of the profits. |
| piecework | compensation system that pays workers for units produced, rather than hours worked. |
| storming | Soviet practice of rushing production at month's end to fulfill quotas, often resulting in production of shoddy goods. |
| perestroika | fundamental restructuring of the Soviet economy;policy introduced by Gorbachev. |
| privatization | conversion of state-owned factories and other propery to private ownership. |
| black market | market in which economic products ae sold illegally. |
| Great Leap Forward | China's desatrous second five-year plan begun in 1958 that forced collectivization of agriculture and raped industialization. |
| capital intensive | production method requiring relatively large amounts of capital relative to labor. |
