ELI5: Explain Like I'm 5

Economy of North Korea

The economy of North Korea is like a game. All the money in a country belongs to the government. The government decides who gets what money and what they can buy with it. In North Korea, the government has complete control. They decide what people can buy, how much they have to work and what they can earn. North Korea doesn't trade much with other countries and so it is hard for people to get money from outside sources. This means North Korea has to make most of the money it needs by itself. They do this by having people work in factories and farms, paying them a set amount each month and in return they receive food, housing and other necessities.