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8 August, 20:39

What is one example of a closed economy

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  1. 8 August, 20:43
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    A closed economy is an economy that does not interact with other economies. Meaning they do not get imports nor do they export anything from their economy.

    One example is Brazil
  2. 8 August, 21:08
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    A 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. A closed economy is the opposite of an open economy, which is when a country will conduct trade with outside regions.

    A closed economy is the opposite of an open economy, in which a country will conduct trade with outside region.
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