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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


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 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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