Question

The New Economic Policy (NEP) was an attempt of the Bolsheviks to revive the Russian economy after years of War Communism.Which of the following statements are true regarding it?

1.It was based on Lenin’s realization that it would be impossible to implement exact theory of Marxism in the context of Russia.

2.Lenin made various amendments in the original Marxian theory to suit the ground realities of Russia.

3.Lenin came up with ‘New Economic Policy’ which although compromised with Marxian theory practically solved various issues in Russia.

• A. 1,2 only
• B. 1,3 only
• C. 2,3 only
• D. 1,2and 3

Answer 1

Answer:

D. 1,2and 3

The New Economic Policy (NEP) was an economic policy of the Soviet Union proposed by Vladimir Lenin as a temporary relief for the Russian economy. As described by Lenin, the NEP was characterized by an economic system that would include a free market system under state control, while socialized state enterprises would operate on a profit basis.