A 'closed economy' is defined as an economy in which ______.

Question

Economics · Economy

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

neither exports nor imports take place with foreign countries

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Economy?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Economy

Mahatma Gandhi's last fast unto death in 1948 was primarily against which of the following?

What was the primary meaning of 'Swaraj' as popularized by Mahatma Gandhi during India's independence movement?

What was one major impact of India’s independence on its economy?

Answer 1

neither exports nor imports take place with foreign countries

Answer 2

only exports take place with no imports

Answer 3

deficit financing takes place extensively

Answer 4

the money supply is fully controlled by the central bank

Related Practice Questions