<P> The economy of the Union of Soviet Socialist Republics ( Russian : экономика Советского Союза ) was based on a system of state ownership of the means of production , collective farming , industrial manufacturing and centralized administrative planning . The economy was characterised by state control of investment , public ownership of industrial assets , macroeconomic stability , negligible unemployment and high job security . </P>
the former soviet union had an economic system by which resources
means of production collective farming industrial manufacturing centralized administrative planning