If North Korea and South Korea Were Both Equally Poor

question 78

Multiple Choice

If North Korea and South Korea were both equally poor in 1950, why has South Korea developed so much faster since then?

• A) The two countries have different language, cultural, and historical backgrounds.
• B) North Korea has an economic system that develops incentives.
• C) South Korea has maintained a more market-based economic system.
• D) South Korea began with a higher per capita GDP.

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Definitions:

Increasing Inventory

The process of adding more stock to a company's current inventory levels, often in anticipation of higher demand or to prevent stockouts.

Variability

The extent to which data points in a dataset differ from each other and from the mean of the dataset, reflecting the dispersion or spread of the data.

Waste

Materials or substances that are no longer useful for production and are discarded.

Adds Value

The process of enhancing a product or service before offering it to customers, thereby increasing its value and appeal.