Explanation:
East Asia is an area usually considered to include China, Japan, North Korea and South Korea. Let's start with Japan. The economy of Japan is a free-market, capitalist economy, similar to most Western countries. It's the third-largest economy in the world, with particularly strong car and electronics manufacturing industries. Like many developed economies, most of its gross domestic product (GDP) comes from the service sector (73%), with most of the rest being a combination of industry (26%) and agriculture (1%). Japan has little in the way of mining or other primary industry.
<u>The Economy of China</u>
The economy of China is known as a socialist market economy, which involves a dominant state-owned sector, operating in an open-market economy. Despite criticisms of socialist economies in the West, China currently has the world's largest or second largest economy, depending on what measure you use. It's also the fastest-growing economy in the world.
Unlike many Western economies, less than half their GDP is based in the service sector. Services account for 48% of GDP, followed by industry at 43% and agriculture at 9% as of 2014. Much of the 43% for industry is manufacturing - China is the biggest manufacturing economy in the world. China is also part of the WTO, APEC and the G-20.
<u>The Economy of North Korea</u>
The economy of North Korea is a command economy, or an economy where production, investment, prices and incomes are all determined by a central government. Another way of wording this is to say that the economy is centrally planned and doesn't rely on the market to spread money and goods around. With less support from other communist countries, it has been difficult for North Korea to maintain a successful economy, and it's therefore one of the poorest countries in the world. Though it's hard to make estimates because so little information about the economy is known, and the currency of North Korea is not exchangeable.
Answer:
James Watt- steam engine with condenser- used much less coal than earlier engines.
Henry Bessemer- Industrial process for steel production- made it cost efficient to produce steel from molten iron on a large scale.
Eli Whitney- Cotton gin- Allowed fibre to be extracted from seed more efficiently.
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He wanted to restrict the supply in order to raise its price. Farmers were growing too much of their crops and as result demand started to go down.
Technically, continuous improvement is an operations concept developed in Japan, although of course it quickly spread to other countries and economies since it provides for more efficiency.
I’m not sure but look below for answer
