Question

An Economy which has no foreign trade is known as --------​

Answer 1

Answer:

the answer is

closed economy

Answer 2

An Economy which has no foreign trade is known as Closed economy.

Explanation:

• A closed economy is one that has no trading relationships with other countries. As a result, the closed economy is completely self-sufficient, which means that no imports enter the country and no exports leave the country.
• Brazil imports the fewest items in the world as a percentage of its gross domestic product (GDP) and has the world's most closed economy. Brazilian firms confront competitive hurdles such as currency appreciation and protective trade policies.