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Question
In a/an _________ economy goods are demanded by households, firms or producers and the government.
In a/an _________ economy goods are demanded by households, firms or producers and the government.
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Solution
The correct option is A closed
A closed economy is one that has no trading action with the external economy. The closed economy is independent, which means no import comes into the country and no exports depart the country. The reason for a closed economy is to provide household consumers with everything they need from within the country's limits.
A closed-household financial system is a society's economic system in which goods are not traded. As an alternative, those goods are shaped and extreme by the same households.
Thus, the correct option is A.
A closed economy is one that has no trading action with the external economy. The closed economy is independent, which means no import comes into the country and no exports depart the country. The reason for a closed economy is to provide household consumers with everything they need from within the country's limits.
A closed-household financial system is a society's economic system in which goods are not traded. As an alternative, those goods are shaped and extreme by the same households.
Thus, the correct option is A.
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