Match the country with its type of economy.
(2 points)
Command Economy Mixed Economy
China south Korea north Korea japan
China - Command Economy
North Korea - Command Economy
South Korea - Mixed Economy
Japan - Mixed Economy
Drag and drop the boxes in the table to show whether each country has an autocratic or a democratic form of government today.
Autocratic Democratic
China Japan Mongolia Taiwan
Autocratic
China
Mongolia
Democratic
Japan
Taiwan
Command Economy: North Korea
Mixed Economy: China, South Korea, Japan
To match each country with its type of economy, we need to understand the characteristics of each type of economy.
A command economy is characterized by central planning and government control over the allocation of resources. In this type of economy, the government makes all major decisions, such as what goods and services to produce, how much to produce, and how they should be distributed. Generally, there is little or no private ownership or market competition.
A mixed economy combines elements of both a market economy and a command economy. In a mixed economy, there is a blend of private enterprise and government intervention. While the private sector plays a significant role in the economy through market-based transactions, the government also exercises control in certain areas, such as regulating industries, providing social services, and implementing economic policies.
Now let's match each country with its type of economy:
China: Command Economy - China follows a command economy system where the government has substantial control over the economy, including the allocation of resources.
South Korea: Mixed Economy - South Korea has a mixed economy, where there is a combination of private sector involvement and government intervention to regulate industries and implement economic policies.
North Korea: Command Economy - North Korea follows a command economy, where the government has complete control over economic decisions.
Japan: Mixed Economy - Japan also has a mixed economy, combining elements of both private enterprise and government intervention.
To summarize:
- China and North Korea have command economies.
- South Korea and Japan have mixed economies.