Economics · Types of Economies
Which of the following best defines a 'Closed Economy'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An economy with a highly controlled deficit financing
- 2An economy where only import takes place
- 3An economy in which neither imports nor exports take place✓
- 4An economy where only export takes place
Correct answer
An economy in which neither imports nor exports take place
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