North Korea's industries as military products, machine building, electrical power, chemicals, mining, metallurgy, textiles, food processing and tourism.
Its main exports were minerals, metallurgical products, manufactures including armaments, textiles and agricultural and fishery products and its main imports petroleum, coking coal, machinery and equipment, textiles and grain.
What will be produced with North Korea’s resources?
Coal Briquettes, Mobile Phones, Bottled Water, High-heeled Shoes, Instant Coffee Mix, USB Flash Drives, etc.
How will these goods be produced?
Government’s investment and factories ‘manufacturing.
Who will use these goods?
Coal mining occupies almost half of all exports to China. Surplus coal is made into coal briquettes, by hand, and sold in Pyongyang where a lack of electricity and gas drives demand for coal. People in the countryside still use wood as fuel.
Mobile Phones. The number of Koryolink (NK’s official network) subscribers topped 1 million.
Bottled Water. Dilapidated infrastructure means that water supplies are irregular, so mid-elites with the means are increasingly overcoming this by buying bottled water (North).
High-heeled Shoes. A sign that NK women, particularly in the capital, are becoming more concerned with fashion. This is partially driven by the influence of South Korean dramas and films that are smuggled into the country.
Instant Coffee Mix. Coffee has boomed in the South Korean market in recent years and it seems that North Koreans are following suit here as well, at least with instant coffee.
USB Flash Drives. There is no access to the internet and personal laptops or computers are out of the reach of all but the very rich, so people store their files on personal USB drives and use them on computers that they do have access to or on USB-compatible DVD players (North). USB drives are also popular because it is easier to store foreign videos and music on them without being caught.
Will these goods be exported?
Only the Coal Briquettes will export to China
Work Citiced
NORTH KOREA'S TOP TEN PRODUCTS AND SERVICES. (2015, April 07). Retrieved March 15, 2017, from http://www.libertyinnorthkorea.org/nktop10/
Its main exports were minerals, metallurgical products, manufactures including armaments, textiles and agricultural and fishery products and its main imports petroleum, coking coal, machinery and equipment, textiles and grain.
What will be produced with North Korea’s resources?
Coal Briquettes, Mobile Phones, Bottled Water, High-heeled Shoes, Instant Coffee Mix, USB Flash Drives, etc.
How will these goods be produced?
Government’s investment and factories ‘manufacturing.
Who will use these goods?
Coal mining occupies almost half of all exports to China. Surplus coal is made into coal briquettes, by hand, and sold in Pyongyang where a lack of electricity and gas drives demand for coal. People in the countryside still use wood as fuel.
Mobile Phones. The number of Koryolink (NK’s official network) subscribers topped 1 million.
Bottled Water. Dilapidated infrastructure means that water supplies are irregular, so mid-elites with the means are increasingly overcoming this by buying bottled water (North).
High-heeled Shoes. A sign that NK women, particularly in the capital, are becoming more concerned with fashion. This is partially driven by the influence of South Korean dramas and films that are smuggled into the country.
Instant Coffee Mix. Coffee has boomed in the South Korean market in recent years and it seems that North Koreans are following suit here as well, at least with instant coffee.
USB Flash Drives. There is no access to the internet and personal laptops or computers are out of the reach of all but the very rich, so people store their files on personal USB drives and use them on computers that they do have access to or on USB-compatible DVD players (North). USB drives are also popular because it is easier to store foreign videos and music on them without being caught.
Will these goods be exported?
Only the Coal Briquettes will export to China
Work Citiced
NORTH KOREA'S TOP TEN PRODUCTS AND SERVICES. (2015, April 07). Retrieved March 15, 2017, from http://www.libertyinnorthkorea.org/nktop10/
TABLE:
What is the country that you are researching: North Korea
Q: Write a brief summary of the economic system of the country. Identify and explain the type of economic system.
A: It is a communist nation under a one-man dictatorship, which directly controls the economy. The country has one of the most closed-off economic systems. This is called command-type economy which also referred to as "socialism," "centrally planned economy," "state-run economy" or "communism."
Q: Select three key economic indicators such as poverty rates, labor distribution, use of resources, etc. and analyze what this information says about the country, how does it compare to other countries, change over time, etc.
A: There are three guiding policies of North Korea economic: “a self-sufficient national economy”, “heavy-industry-first development” and “military-economy parallel development”. Although these indicators look really good, hese policies actually have been an obstacle in the country’s economic development. The shortcomings of the policies got accentuated by the regime’s focus on songun which have landed North Korea in a state of chronic economic problems. There is stagnation in industrial and power output along with food shortages because of the systemic problems. Alos becuase of the years of unserinvestment, the industrial captial stock is nearly beyond repair, and the large-scale military occupoed the resources needed of people and investment.
Q: Identify the GDP - per capita for the country.
A: GDP - per capita (PPP):
$1,800 (2014 est.)
$1,800 (2013 est.)
$1,800 (2012 est.)
Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2004.html
What is the country that you are researching: North Korea
Q: Write a brief summary of the economic system of the country. Identify and explain the type of economic system.
A: It is a communist nation under a one-man dictatorship, which directly controls the economy. The country has one of the most closed-off economic systems. This is called command-type economy which also referred to as "socialism," "centrally planned economy," "state-run economy" or "communism."
Q: Select three key economic indicators such as poverty rates, labor distribution, use of resources, etc. and analyze what this information says about the country, how does it compare to other countries, change over time, etc.
A: There are three guiding policies of North Korea economic: “a self-sufficient national economy”, “heavy-industry-first development” and “military-economy parallel development”. Although these indicators look really good, hese policies actually have been an obstacle in the country’s economic development. The shortcomings of the policies got accentuated by the regime’s focus on songun which have landed North Korea in a state of chronic economic problems. There is stagnation in industrial and power output along with food shortages because of the systemic problems. Alos becuase of the years of unserinvestment, the industrial captial stock is nearly beyond repair, and the large-scale military occupoed the resources needed of people and investment.
Q: Identify the GDP - per capita for the country.
A: GDP - per capita (PPP):
$1,800 (2014 est.)
$1,800 (2013 est.)
$1,800 (2012 est.)
Source: https://www.cia.gov/library/publications/the-world-factbook/fields/2004.html
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