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“Closed Economy” means:
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- no provision for public sector
- no provision for private sector
- economy policy not well defined
- a country having no imports and exports
Correct Option: D
Closed economy is an economy in which no activity is conducted with outside economies. A closed economy is self-sufficient, meaning that no imports are brought in and no exports are sent out. The goal is to provide consumers with everything that they need from within the economy's borders.
