asked 47.2k views
0 votes
Which is true of North Korea's economy?

O Production of military products has resulted in a strong economy.
O Many market economy policies have been put in place.
O There is private ownership of farms and factories.
O The government controls the production of goods.

asked
User Triode
by
7.6k points

1 Answer

3 votes
The statement "The government controls the production of goods" is true of North Korea's economy. North Korea operates as a command economy, where the state or the government owns and controls the means of production, distribution, and exchange of goods and services, and plays a dominant role in determining the economy's direction and development. There is no private ownership of farms and factories, and many market economy policies have not been put in place. While North Korea's production of military goods has allowed it to invest heavily in defense, it has resulted in economic hardship for many North Korean citizens.
answered
User Nishant Rajput
by
8.3k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.