Question

How are the government and economy of North Korea structured. ?

Answer 1

The country of North Korea, officially known as the Democratic People's Republic of Korea (DPRK), has an isolated and tightly controlled command economy. A command economy is a standard component of any communist country. In a command economy, the economy is centrally planned and coordinated by the government.

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Answer 2

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

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