Question

Communism was a new economic and Social system how?

Answer 1

Communism established after the Bolsovik Revolution in Russia, had emerged as an economic and social system.

This system ended the domination of the capitalists and the aristocracy in the economic and social spheres.

Earlier land used to be the private property of big landowners, Zamindars. They often belonged to the priviledged.

Similarly, Industries, factories etc. were also the private property of the capitalists.

Due to land and industries being Private Property, their economic condition was good. Social status was high and personal life was luxurious.

In this system, agricultural land was declared as state property and distributed among the farmers.

The farmers had to hand over the surplus produce to the state at a fixed rate.

The industries were also nationalised. There was a state monopoly on all goods of production and consumption and on foreign trade.

State machinery was established for the conduct of industry and trade.

Thus, communism established a completely new economic and social order.