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
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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