Question

1. briefly explain the new economic policy.

Explanation:

The New Economic Policy (NEP), implemented by Lenin in Soviet Russia (1921 - 1928), was a response to the economic crisis post - War Communism. It reintroduced limited market mechanisms: allowed private trade in consumer goods, permitted small - scale private enterprises, and introduced a tax (the prodrazvyorstka replaced by a tax in kind) on peasants' surplus grain. This policy aimed to revive the economy, stabilize society, and build a bridge to socialism by using capitalist - like elements temporarily.

Answer:

The New Economic Policy (NEP, 1921 - 1928 in Soviet Russia) was a policy by Lenin to address post - War Communism economic crisis. It reintroduced limited market elements: allowed private trade, small private businesses, and replaced grain requisition with a tax - in - kind, aiming to revive the economy and transition to socialism.