what type of economic system does north korea have
Economy of North Korea North Korea's economy is a centrally planned system, where the role of market allocation schemes is limited, though increasing.[8] Although there have been some small-scale reforms, as of 2015[update], North Korea continues its basic adherence to a rigid centrally planned command economy, and its reliance on fundamentally non-pecuniary (not readily quantified or valued in money) incentives. There has been economic reform, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment.[9][10][11][12][13][14]
Mixed economy Economies ranging from the United States[5][6] to Cuba[7] have been catalogued as mixed economies. The term is also used to describe the economies of countries which are referred to as welfare states, such as the Nordic countries.[8][9] Governments in mixed economies often provide environmental protection, maintenance of employment standards, a standardized welfare system, and maintenance of competition.
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]
Vietnam War North Vietnamese victory