Question

In North Korea, a farmer’s income is the same as a dentist’s income. In a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. How can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?

Answer 1

Due to capitalism and free market, (in some countries) the professions differ due to certain requirements. For example, a dentist works hard for dental and went through years and years of school, however as a farmer you just earn lower than a normal dentist. It's a classic example of communism as how North Korea goes by.

It wouldn't really work in a long shot, the motivation to earn the same as a farmer is just no.

Answer 2

In a mixed economy, professional earns do not earn similar salaries, as the government has interference in such economies.

What is a mixed economy?

A market where the buying and selling of goods in a free economy has traits of government intervention, such a condition is known as a mixed economy.

Hence, the significance of a mixed economy is aforementioned.

Learn more about mixed economy here:

https://brainly.com/question/13719381

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