what-was-the-name-of-the-gdrs-economic-system

📌 Question

What was the name of the GDR’s economic system?

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📝 Options:

🔘 A) Market economy

🔘 B) Planned economy

🔘 C) Supply and demand

🔘 D) Capitalism

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🔍 Show Answer

💡 Correct Answer: b

📖Explanation: After the Second World War, Germany was divided, and the German Democratic Republic (GDR) was created in the east. The GDR established a specific economic system that was fundamentally different from market economy structures. In this system, the state took control of production and resource distribution through central planning. Private companies played little role, and economic decisions were made by state authorities in order to meet the social and political goals of the GDR.