Get Started
246

Q:

What is such an economy called which does not have any connection with the rest of the world?

  • 1
    Closed economy
  • 2
    Free Economy
  • 3
    Mixed economy
  • 4
    Socialist
  • Show Answer
  • Workspace

Answer : 1. "Closed economy"
Explanation :

When a country claims to be self reliant, it is said to be closed economy. In closed economy, country produces every thing within the country what their citizens need. It neither imports nor exports, that means it does not trade with any other nation.

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today