Which of the following countries has an economy where most of the resource allocation is determined by a central planning authority? a. Japanb. North Koreac. United states of Americad. Sorth Korea

Question

Social Studies

Kaitlyn

26 March, 08:05

Which of the following countries has an economy where most of the resource allocation is determined by a central planning authority? a. Japanb. North Koreac. United states of Americad. Sorth Korea

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Answers (1)

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Felix · Answer 1

b. North Korea

Explanation:

The authority in North Korea is held by the Kim dynasty and its polity is based on Stalinist dictatorship. Production is controlled by the sate through collective farms and state-run industries. The polity is based on the socialist model where major services are controlled and funded by the government like the healthcare sector, education, housing, etc.