Question

define a closed economy
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Answer 1

A closed-household economy is a society's economic system in which goods are not traded. Instead, those goods are produced and consumed by the same households. In other words, a closed-household economy is an economy where households are closed to trading.

Answer 2

Answer:

closed-household economy is a society's economic system in which goods are not traded. Instead, those goods are produced and consumed by the same households. In other words, a closed-household economy is an economy where households are closed to trading.

Explanation:

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