Which term refers to the restructuring of the Soviet economy carried out by Mikhail Gorbachev?

The term that refers to the restructuring of the Soviet economy carried out by Mikhail Gorbachev is Perestroika. This policy, introduced in the mid-1980s, aimed to reform the stagnant Soviet economy by introducing elements of market economics, decreasing government control over many sectors, and encouraging private enterprise. Gorbachev recognized the need for significant changes to revitalize the economy and address inefficiencies, and Perestroika was a key component of his broader efforts to reform the Soviet Union.

Glasnost, another significant initiative from Gorbachev's era, focused on increasing transparency, freedom of expression, and openness in government and society, but it was not directly aimed at economic restructuring. Socialism and Communism refer to broader political and economic ideologies rather than specific policies or reforms initiated during Gorbachev's leadership.