The following term is most applicable to Mikhail Gorbacherv reforming of the soviet economy in the late 1980s

Answer 1

The term most applicable to Mikhail Gorbachev's reforming of the Soviet economy in the late 1980s is "perestroika." Perestroika, which means "restructuring" in Russian, refers to the series of political and economic reforms implemented by Gorbachev in an effort to revitalize the Soviet Union's economy and make it more efficient. These reforms included the introduction of elements of market economics and decentralization of economic decision-making. Another significant term associated with Gorbachev during this time is "glasnost," which refers to greater openness and transparency in government and society.