A "closed economy" is an economy in which:

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CollectorBabu · Accepted Answer

Correct Answer: neither exports nor imports take place. A closed economy is one that does not trade with outside economies. Hence the closed economy is fully self-sufficient, meaning no imports reach the country and no exports exit the country. The goal of a closed economy is to deliver everything citizens need from within the borders of the country.

A "closed economy" is an economy in which:

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