Imagine that a new, high-demand item has been simultaneously introduced into two countries: one with a command economy and one with a pure market economy. Describe how each country would approach production of the item, the likely quality of the resulting product, and how successful each would likely be at distributing the item. Conclude with an opinion on which system would be preferable, and support your opinion with evidence ?

Answer rating: 100% (QA)

In a command economy such as North Korea the production of the new highdemand item would likely be c... View the full answer