This assertion is False because the Soviet monopoly over the economies of Eastern Europe was so severe that, by the end of the 1970s, over 90% of their trade was with the USSR.
A community's resource allocation is ultimately determined by a collection of connected production and utilization collectively referred to as an economy. The demands of persons who live there and conduct business there are met by the production & consumption of products and services in their entirety. An economy is indeed a region where products and services are produced, distributed, traded, and consumed. It is generally understood to be a social domain which places an emphasis on the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.
Economics attempts to address the issue of scarcity, which arises when consumer demands for products and services outweigh the supply. The division of labor in the modern economy allows people to make money by specializing in what they create, which they then use to buy the goods they need or want.
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