Question

What do you mean by open economy ? How does our choice expand through open economy ? State two ways.

Answer 1

Answer:

An open economy is a type of economy where the domestic community and out have trade in products (goods and services). Trade can take the form of managerial exchange, technology transfers, and all kinds of goods and services. ... The act of selling goods or services to a foreign country is called exporting.

Explanation:

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Answer 2

Answer:

An open economy is a type of economy where the domestic community and out have trade in products (goods and services). Trade can take the form of managerial exchange, technology transfers, and all kinds of goods and services.

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