Q:
What Type of Economy Does North Korea Have?
A:
Quick Answer
North Korea has a command-type economy. This type of economy is also referred to as "socialism," "centrally planned economy," "state-run economy" or "communism."
Continue ReadingFull Answer
North Korea is the upper half of the Korean Peninsula, located in Eastern Asia. It is a communist nation under a one-man dictatorship, which directly controls the economy. The country has one of the most closed-off economic systems, with a global ranking of 121st in terms of exports and 131st in terms of imports, as of 2012. North Korea's major trading partners are China and South Korea. Other countries with a command-type economy include Cuba, Myanmar, Laos and Iran.
Learn more about East AsiaSources:
Related Questions
-
Q:
What Are the Physical Features of North Korea?
A: Mountain ranges are the dominant physical feature of North Korea's landscape as roughly 80 percent of the country consists of mountains, hills and highland... Full Answer >Filed Under: -
Q:
Which Country Is Bigger, North Korea or South Korea?
A: The total area of North Korea is approximately 46,000 square miles, which makes it bigger than South Korea, which has an approximate area of 39,000 miles. ... Full Answer >Filed Under: -
Q:
What Is the Capital of North Korea?
A: Pyongyang is the capital city of the Democratic People's Republic of Korea, commonly known as North Korea. More than 3.2 million people live in the city, a... Full Answer >Filed Under: -
Q:
What Type of Government Does North Korea Have?
A: The Democratic People's Republic of Korea is more commonly known as simply North Korea. This country is a communist state and a dictatorship. Full Answer >Filed Under:
You May Also Like
-
Q:
What Type of Sound System Is in the 2016 Ford Focus?
-
Q:
What Type of Compound Bows Does Bowtech Sell?
-
Q:
What Type of Information Does the Wedding Wire Website Provide?
-
Q:
What Type of Nutrient Is Starch?
-
Q:
What Type of Specialist Do You See for Headaches?
-
Q:
What Type of Items Are Found in National Park Gift Shops?
