Explain the difference between a mixed economy and a command economy. give an example of an east asian country that has a mixed economy and one that operates under a command economy. make sure to write your response in complete sentences.

The difference between a mixed economy and a command economy is the amount of governmental control in economic activities. In a mixed economy, government control is usually minimal. Certain government regulations are in place, but the economy continues to run without a great deal of interference. In a command economy, the government has total control of all economic activities. Examples of countries that have a mixed economy are South Korea and Japan. The most extreme example of a country under a command economy is North Korea. China used to have many regulations and would have been considered a command economy. However, many of the regulations have been removed recently. Although China is a communist country with more regulations than most, it has a mixed economy.