Question

North Korea can be described as most likely having which type of economic system?

Answer 1

Answer:

The economy of North Korea is a centrally planned system, where the role of market allocation schemes is limited, though increasing. As of 2020 North Korea continues its basic adherence to a centralized command economy. ... China is North Korea's largest trading partner.

Country group: Low-income economy

Currency: North Korean won

GDP: $32.1 billion (nominal, 2018)

GDP by sector: agriculture: 22.5%; industry: 47...