Question

Part C

Now, take the information you have gathered and create a two-column chart that compares the two countries. Which one appears to have greater economic success? Why do you think that might be? Use data from your research to back up your answer.

Answer 1

GDP-$37.13 billion(North Korea)

-270.12 billion(finland)

Per Capita GDP-1,649(North Korea) 50,877(finland)

Industrail production growth rate-1.2%(North Korea)

-0.7%(finland)

Type of Economy-centralized, command economy(North Korea)

-highly industrialized, mixed economy(finland)

Resources-extensive mineral resources(North Korea)

-extensive mineral resource(finland)

Step-by-step explanation:

plato

Answer 2

North Korea / Finland

GDP (official exchange rate): $37.13 billion / $270.12 billion

GDP per capita: $1,649 / $50,877

Industrial production growth rate: 1.2% / 0.7%

Finland appears to have greater economic success than North Korea based on the data presented. This can be seen in their GDP and GDP per capita, with Finland having significantly higher figures than North Korea. The industrial production growth rate of Finland is also lower than that of North Korea, which reflects the greater productivity of their economy. Finland's mixed economy and extensive social welfare system, as well as its reliance on foreign trade and focus on the tech industry, have led to strong economic growth and a more prosperous standard of living for its citizens than North Korea's economy.