Question

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

Answer 1

Answer:

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.