How does the economy of cuba differ from the economy of north korea? In north korea

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Business

Bernard Davies

25 July, 15:42

How does the economy of cuba differ from the economy of north korea? In north korea

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Dodson · Answer 1

Cuba's economy is a planned economy, in which most industries are owned and operated by the government. North Korea's economy is a strict, dictatorial commanding economy centrally planned.

The public sector is the dominant sector in Cuba, accounting for 76% of employment in 2000 but decreased dominance level of contribution from 91% in 1981. On the other hand, North Korea's economy is tightly executive government tight restrictions on the free market. When the government held in Cuba on its economy began to decline, so there is no change in North Korea.