Question

Describe the failure of efficient use of capital in north korea.

Answer 1

All values, unless otherwise stated, are in US dollars. 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 centrally planned command economy.

Answer 2

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 centrally planned command economy. There has been some economic liberalization, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactmen