If a country engages in trade with other countries,it is known as
A)An open economy.
B)A democracy.
C)A closed economy.
D)A market economy.

Question

Quizplus · Accepted Answer

An open economy refers to a country that engages in trade with other countries, which includes imports and exports of goods, services, and capital. This is in contrast to a closed economy where a country does not trade with other countries and is self-sufficient.

If a Country Engages in Trade with Other Countries,it Is