Economics · Types of Economies
What is meant by a 'closed economy'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An economy in which neither exports nor imports take place✓
- 2An economy where only export trade takes place
- 3An economy where only import trade takes place
- 4An economy where both import and export trades take place
Correct answer
An economy in which neither exports nor imports take place
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