Question

A "closed economy" is an economy in which
(a) the money supply is fully controlled
(b) deficit financing takes place
(c) only exports take place
(d) neither exports nor imports take place

Answer 1

Neither export nor import take place is called closed economy.
please mark as brilliant answer

Answer 2

A closed economy refers to one that  does not engage in any trade activity with outside economies. This economy is believed to be  self-sufficient, which means no imports and no exports takes place in the country. The aim of a closed economy is to provide domestic consumers with everything they need from within the country's borders. Countries under a closed economy tend to be less developed than those of free economy . This is because in free economy they do not have many limitations.