Economics · International Trade Theories
The term 'Autarky' in international economics refers to a state or country that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Is governed by an authoritarian regime
- 2Is completely self-sufficient and operates as a closed economy✓
- 3Engages in completely free trade with the rest of the world
- 4Relies entirely on foreign aid and imports
Correct answer
Is completely self-sufficient and operates as a closed economy
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