Answer: The economy of North Korea is a centrally planned system, where the role of market allocation schemes is limited, though increasing. As of 2015 North Korea continues its basic adherence to a centralized command economy.
Country group: Low-income economy
Currency: North Korean won
GDP by sector: agriculture: 22.5%; industry: 47...
GDP per capita rank: 178th (nominal, 2017); 1...
Answer:
Capitalism leads to inequalities in the income. In capitalism, firms can get monopoly over workers and consumers. A high profit earning motive of capitalist economy leads to using resources in such a way that it leads to environmental problems by destroying the natural balance.
