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:

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Established methods or sequences of steps followed in a consistent and systematic way for the accomplishment of a task or an operation.

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