What type of economy existed in Russia before the Revolution?

Answer:

Points to remember

The economy of Russia before the revolution:

  • Majority of Russia’s population were agriculturists.
  • The industry was found in pockets . Prominent industrial areas were St Petersburg and Moscow .
  • Many factories were set up in the 1890s when Russia’s railway network was extended , and foreign investment in industry increased .

Answer to be written

The economy of Russia before the revolution:

  • At the beginning of the twentieth century, the vast majority of Russia’s population were agriculturists as a result, Russia was a major exporter of grain because about 85 per cent of the Russian empire’s population earned their living from agriculture . In the empire, cultivators produced for the market as well as for their own needs .
  • The industry was found in pockets . Prominent industrial areas were St Petersburg and Moscow . There were large factories alongside craft workshops , but most of the production was performed by craftsmen.
  • Many factories were set up in the 1890s when Russia’s railway network was extended , and foreign investment in industry increased . Coal production doubled and iron and steel output quadrupled . By the 1900s , in some areas factory workers and craftsmen were almost equal in number .
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo