Well for one, the time, the country was 32 years older.
Park Chung-Hee took power in 1961, and stayed in power until 1979.
Five Year plan in 1962, to try to growth national economy.
Second Five Year plan began in 1967, and targeted export-oriented growth as well as the steel industry.
Chun Doo-hwan took power in 1979 and stayed in power until 1988.
The constitution changed in 1986 to allow direct voting for the president.
The person in power changed, as well as an economic growth, and a change in the constitution.
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Adam smith said that the free market economy is regulated by : C. Self interest and competition
In free market economy, all economic activities that happen purely based on the the amount of supply and demand. Self interest such as what products you desire, how much price you can afford it will affect the amount of demand, and competition between sellers will affect the price and the amount of supply
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A. The command economy is a key feature of any communist society. Cuba, North Korea, and the former Soviet Union are examples of countries that have command economies, while China maintained a command economy for decades before transitioning to a mixed economy that features both communistic and capitalistic elements.
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Answer: 7.14
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