📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      The ‘Closed Economy is the economy in

      which
      A Only export takes place. Correct Answer Incorrect Answer
      B Budget deficit is less. Correct Answer Incorrect Answer
      C Only import takes place. Correct Answer Incorrect Answer
      D There is no foreign trade. Correct Answer Incorrect Answer

      Solution

      A closed economy typically refers to a country that does not trade or engage in other financial exchanges with any other country. That means no imports come into the country and no exports leave it.

      Practice Next

      Relevant for Exams:

      ask-question