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South Korea generates revenue and sustains its economy through a diverse range of industries, including technology, automotive manufacturing, shipbuilding, and tourism. The country also relies on exports, particularly of electronics, automobiles, and machinery, to drive economic growth. Additionally, South Korea has a strong focus on innovation and research and development, which helps to maintain its competitive edge in the global market.
What else can I help you with?
Does North Korea have an Command Economy?
North Korea has a command economy.that they developingsee link below
What types of economy do North Korea and South Korea have?
North Korea practices a trade policy of autarky, which is defined as being completely self-sufficient, as a country, in the production of goods and services. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society. As a result of autarky, the country remains in grinding poverty.Conversely, South Korea runs a capitalist-based mixed economy and has a sophisticated level of production, trade, and development. The living standards of South Korea have continually increased from the 1960s and South Korea is commonly considered to be a First World country.
What is the economy of North Korea would best be classified as...?
A command economy.
Where is command economy used?
A place that uses a command economy is North Korea.
Is North Korea economy capitalism?
No, it's communist.
What are the 3 main exports in North Korea?
The 3 main exports of North Korea are coal, textiles, and minerals. These products are key sources of revenue for the country's economy.
Is North Korea a command economy or a free economy?
North Korea has a command economy.
Why does North Korea have a mixed economy?
North Korea does not have a mixed economy. It has a command economy or centrally planned economy because the government controls everything in north Korea.
What type of economy does South Korea have?
South Korea has an export economy.
Is South Korea a capitalist?
The economy of South Korea is a capitalist that exists in a mixed economy. The economy system of South Korea, combines both the public and private companies.
What is the economy in South Korea?
average or command economy.
How would you categorize north Korea and south Korea's economic system?
· North Korea is a planned and isolated economy also they have a lack of arable land. But on the other hand South Korea they have an high-tech modern world economy South Korea joined the trillion dollar club of world economy.
Who controls North Korea’s economy and owns and runs all factories and farms?
Who controls the economy in North Korea? The economy of North Korea is a centrally planned economy, following Juche, where the role of market allocation schemes is limited, although increasing. As of 2021, North Korea continues its basic adherence to a centralized command economy.
Does North Korea have an Command Economy?
North Korea has a command economy.that they developingsee link below
Was North Korea communism or capitalism during the Cold War?
The economy of South Korea is a capitalist that exists in a mixed economy. The economy system of South Korea, combines both the public and private companies.
What types of economy do North Korea and South Korea have?
North Korea practices a trade policy of autarky, which is defined as being completely self-sufficient, as a country, in the production of goods and services. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society. As a result of autarky, the country remains in grinding poverty.Conversely, South Korea runs a capitalist-based mixed economy and has a sophisticated level of production, trade, and development. The living standards of South Korea have continually increased from the 1960s and South Korea is commonly considered to be a First World country.
What countries have planned economy?
korea
