What makes the economic activities of north and South Korea

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21-05-2020
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What makes the economic activities of north and South Korea

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kaylynnpalmer34 kaylynnpalmer34 · Answer 1 · 2020-06-01T17:49:29+02:00

Answer:North Koreas economy is based off of a communist system of production while, South Koreas economy is affected by retail,tourism,and finance.

Explanation:

How the North Korea Economy Works. North Korea, officially known as the Democratic People's Republic of Korea (DPRK), is an unreformed, isolated, tightly controlled, dictatorial command economy. The country's economic system is based on a communist system of production without the use of free markets.The service sector, consisting of growing industries like retail , tourism, and finance is now South Korea's largest economic sector, accounting for 51.5 percent of gross domestic product (GDP) in 1999, while industry, including construction and mining, claimed a 43.5 percent share.