Question
An economy in which there are no flows of labour, goods or money to and from other nations is a/an
Answer: Option A
Answer: (a)
An economy that does not interact with the economy of any other country is known as a closed economy.
A closed economy is self-sufficient, meaning no imports are brought in and no exports are sent out. It is the opposite of an open economy, in which a country conducts trade with outside regions.
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Answer: (a)
An economy that does not interact with the economy of any other country is known as a closed economy.
A closed economy is self-sufficient, meaning no imports are brought in and no exports are sent out. It is the opposite of an open economy, in which a country conducts trade with outside regions.
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