Trade-offs force society such as what goods and services will be produced, how will the goods and services be produced, and who will receive the goods and services produced. Which of the following countries has an economy where the government makes these decisions?

A. Canada.

B. The United States.

C. Japan.

D. North Korea.

Question

Business

Samir

17 January, 16:38

Trade-offs force society such as what goods and services will be produced, how will the goods and services be produced, and who will receive the goods and services produced. Which of the following countries has an economy where the government makes these decisions?

A. Canada.

B. The United States.

C. Japan.

D. North Korea.

+1

Answers (1)

Know the Answer?

Babe · Answer 1

D. North Korea

Explanation:

Unlike other three nations provided as options, North Korea is a communist nation.

The central problems of an economy relate to answering the three questions of what to produce, how to produce and for whom to produce.

In a communist nation such as North Korea, the government is the supreme authority and citizens of such a nation do not exercise any influence or control on the output which shall be produced.

All the economic decisions are taken by the ruling government in such nations.

Hence, the correct answer is option (D). North Korea