8. Which type(s) of economies interact with other economies? a. only closed economies b. only open economies c. closed...
8. Which type(s) of economies interact with other economies?
Homework Answers
Ques 8)
Answer) An Open
Economy is one which is completely free from trade
barriers i.e. an economy where economic activity occurs within the
domestic region of the country as well as outside the domestic
region of the country.
While on other hand, A Closed economy is
one in which do not have any kind of trade or economic relation
with the rest of the world i.e. no import and export takes place in
the economy of that country.
Hence, Option B, which states "only open economies" is correct.
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8. Which type(s) of economies interact with other economies? a. only closed economies b. only open economies c. closed...
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