Question
An economy which does not have any relation with the rest of the world is known as
Answer: Option C
Answer: (c)
A Closed economy is an economy in which no activity is conducted with outside economies.
A closed economy is self-sufficient, meaning that no imports are brought in and no exports are sent out. The goal is to provide consumers with everything that they need from within the economy's borders.
Was this answer helpful ?
Answer: (c)
A Closed economy is an economy in which no activity is conducted with outside economies.
A closed economy is self-sufficient, meaning that no imports are brought in and no exports are sent out. The goal is to provide consumers with everything that they need from within the economy's borders.
Was this answer helpful ?
Submit Solution