The Importance of Institutions Match the characteristics to the correct country. CategoryCharacteristic of North Korea CategoryCharacteristic of South Korea Possible answers Commercial cooperation Prices are controlled. Cooperation and trust and honest commercial dealing Totalitarian state A developed, modern economy. Most people do not have the freedom to start businesses. Mostly darkness at night Entrepreneurs produce goods and services, which consumers wanted. Capital is allocated by the communist party Communism Economy is centrally planned and directed Allowed to earn and keep profit. Capitalism and a relatively free market economy