How does the economy of Cuba differ from the economy of North Korea?
Answers
North Korea and Cuba both have an economy which is based on Marxist principles.
However, both have a little difference between them.
Where North Korea has a great amount of Government control over the economic policies and the economic ventures of the population.
Cuba has a more relaxed economic policy and the government does not control it that strictly.
Answer:
The economy of Cuba and the economy of North Korea are both based on the Marxist principles. However, there is a little difference between the application of these principles and the functioning of economies of both the countries
1. "Economy of North Korea": Here, the government exercises a large amount of control over the economic policies and ventures by the people of the country. The functioning of the economy is keenly supervised by the government and many restrictions are imposed regarding the same.
2. Economy of Cuba: Here, the economic policies by the government are much more relaxed and are not strictly controlled or supervised by the government.