(Consider This) North Korea's command economy
A) is one of the few remaining command economies.
B) has grown much faster than South Korea's economy since the two countries were divided after World War II.
C) produces a per capita GDP of nearly $25,000.
D) has undergone significant market reforms and is now one of the fastest-growing economies.

Question

Quizplus · Accepted Answer

North Korea's economy is a command economy, meaning that the government controls all aspects of the economy, including prices, production, and distribution. This type of economy is rare today, with most countries moving towards market-based economies.

(Consider This) North Korea's Command Economy