What conclusion can be drawn about capitalism from South Korea's economic growth in the late 20th century?

O

A) Capitalism can restore a damaged economy.

O

B) There is no real difference between socialism and capitalism,

O

C) Socialism can revive an economy over a prolonged period of time.

O

D) A transition from capitalism to a command economy can involve struggle.

Question

Anabelle Short

History

16 July, 14:50

What conclusion can be drawn about capitalism from South Korea's economic growth in the late 20th century?

O

A) Capitalism can restore a damaged economy.

O

B) There is no real difference between socialism and capitalism,

O

C) Socialism can revive an economy over a prolonged period of time.

O

D) A transition from capitalism to a command economy can involve struggle.

+3

Answers (1)

Know the Answer?

Piper · Answer 1

Capitalism can restore a damaged economy.

Explanation:

At that time, Korean economy was in dire situations, due to the war that they have to faced with the Japanese and civil war with the north Koreans.

They started to turn their economy into capitalism in an effort to fix their country.

It was a huge success. Capitalist system gave off huge incentives for south Korean citizens who want to innovate and opened up their new business Many Korean companies started to prioduce a good enough product to conquered the global market (such as Samsung and Nissan). As per 2018, South korea ranked 13th in terms of GDP.