Question

How does the economy of Cuba differ from the economy of North Korea? In North Korea, the government’s control of the economy has begun to loosen. In Cuba, the government maintains a tight hold over the economy. In Cuba, the government’s control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy. In North Korea, there is economic uncertainty in exchange for individual choice. In Cuba, there is economic security in exchange for government control. In Cuba, there is economic uncertainty in exchange for individual choice. In North Korea, there is economic security in exchange for government control.\

Answer 1

Answer:

The answer is (B) In Cuba, the government’s control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.  

Explanation:

Cuba is a country in Latin America that was under the rule of an authoritarian leader named Fidel Castro. Under his rule, the economic system applied in Cuba was a planned economy – also known as a communism-based economy, where the government owns and operates most of the industries and people are paid a similar wage to one another. After a few decades, however, Cuba chose to implement a more moderate form of its planned economy, allowing certain private enterprises to emerge. North Korea – an East Asian country which is also under authoritarian rule by the Kim family – implements a similar form of centralized planned economy, although it hasn’t yet developed its private sector as much as Cuba.