General Awareness Questions

Q.  What is one example of a closed economy?

a. Brazil
b. China
c. Pakistan
d. India


ANSWER: See Answer
 
Brazil is one example of a closed economy in the given options.
A closed economy is one that has no trading activity with outside economies. A closed economy is self-sufficient, which means no imports come into the country and no exports leave the country. A closed economy's intent is to provide domestic consumers with everything they need from within the country's borders.

 

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