Question

What is a self-reliant economy?

• A. An economy that takes aid and trades only with select economies/ countries.
• B. An economy that completely depends on other economies for its sustenance.
• C. An economy that does not require any aid, support, interaction or trade with the outside world.
• D. An economy that is partially dependant on other economies for its sustenance.

Answer 1

The correct option is C An economy that does not require any aid, support, interaction or trade with the outside world.

A self-reliant economy, also called Autarky is one that does not require any aid, support, interaction or trade with the outside world. The British conquest transformed the Indian economy from a self-reliant one into the colonial economy.