146k views
2 votes
Match each country with its most likely place on the economic continuum.

China
Japan
North Korea
India

1 Answer

6 votes

Answer:

The place of the given countries on the economic continuum are:

China - Slightly on the market side

About 60% of the economy is based on private sectors, where producers and consumers make key decisions. 40% is based on state-run industries.

India - More on the market side as compared to China

India has allowed its markets to open up to private sector, attracting domestic and foreign businesses.

Japan - Most towards the market side

It is mainly market driven. The supply and demand determines what and how much of a product will be produced. Very few industries are government controlled.

North Korea - Most towards the Command side

The majority of all economic activities are run by the government. It is considered one of the most command economies in the world.

User Chirantan
by
4.5k points