Question : An economy in which there are no flows of labour, goods, or money to and from other nations is ____.
Option 1: Slow economy
Option 2: Mixed economy
Option 3: Closed economy
Option 4: Open economy
Answer (1)
20th Jan, 2024
Correct Answer: Closed economy
Solution : The correct answer is a Closed economy.
An open economy exchanges goods and services with other countries. There is no trade with other nations in a closed economy . A mixed economy is a blend of socialism and capitalism.
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