Question

what is meant by open economy..?? ​

Answer 1

• An open economy is a type of economy where not only domestic factors but also entities in other countries engage in trade of products (goods and services). ... It contrasts with a closed economy in which international trade and finance cannot take place

Answer 2

Answer:

An open economy is a type of economy where not only domestic factors but also entities in other countries engage in trade of products (goods and services). ... It contrasts with a closed economy in which international trade and finance cannot take place.

Explanation:

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