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Question : A closed economy is one in which

Option 1: Does not trade with other countries

Option 2: Does not possess any means of international transport

Option 3: Does not have a coastal line

Option 4: Is not a member of the UNO


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 20th Jan, 2024

Correct Answer: Does not trade with other countries


Solution : The correct answer is Does not trade with other countries .

A closed economy does not trade with other countries, meaning it does not involve itself in imports, exports or any financial exchanges with other nations. Examples of closed economies include Morocco, Algeria, Ukraine, Moldova, Tajikistan, Vietnam, and Brazil.

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