Question

Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional questions. Online Content: Site 1 Explain the type of economic system found in North Korea. Who controls the economic activity? What program receives the majority of the country's budget? (Site 1)

Answer 1

Answer:

North Korean economy is centralized planned economy, North Korean economic activity is control by its government and its majority of economic budget is received by North Korean military.

Explanation:

North Korean economy is based on a centrally planned arrangement, where the purpose of market allocation plans is restricted, although rising. As of 2020, North Korea remains its basic adherence to a centralized command economy.

North Korea's economy is strictly commanded by its government. the state regulates all means of production, and the government establishes preferences and importance in economic growth.

North Korean military received the majority of its country's budget because of ongoing tension between the South and North Korea and of-course because of North Korea's nuclear missiles programs.