Grade 9 Terry Yang economy project

Terry Yang

Questions

Which country of the two you selected has implemented the most preferable economic policies?

I will choose South Korea. If we adopt North Korean economy system, our country can’t grow up. North Korean economy system’s weakness point is that give same pay for worker. Everyone go to use this point that don’t work and get same pay with work hard worker. So i will choose South Korea economy system.

To what extent, if any, should governments try to manipulate the economy?

Yes. South Korea manipulate the economy well. As i mention before Korean live well now. Because government choose right thing. But North Korea, I think they can’t handle their economy. They all ways want fight and this situation will drop down their economy growth.

Governments interacting with the economy

Monetary and Fiscal Policies

South Korea




Korea choose big monetary unit. (Like 50000 won) In Korea, Korean call it won. In other hand, Korea have big central bank called 'Hancuk Bank’. Korean support the government because they lead economy well.

North Korea





North Korea choose small monetary unit than South. In North Korea, they also called it won. Also they have central bank. Nations don’t support them, but country can give menace to them. So they can’t defiance.

Just Goverment

South Korea

What type of governments do they have?

South Korea adopt democracy. South Korea is republic. Also they choose mixed economy.

North Korea

What type of governments do they have?

North Korea adopt socialism. There is dictatorship. They choose planned economy.



What are the goals of these different governments?

South Korea want individual benefit and North Korea want equality.

Compare South Korea and North Korea

South Korea choose democracy and North Korea choose socialism.
Also, South Korea adopt republic, North Korea adopt dictatorship.

Total GDP

South $1.449 trillion
North $40 billion

GDP per capita

South $32,020
North $1,800

Economic Growth

South 2.1%
North 1.1%

Unemployment

South 3%
North Unknown