If a country engages in trade with other countries,it is known as

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An open economy refers to a country that engages in international trade, allowing the free flow of goods, services, and capital across its borders. This means that the country is willing to import and export goods and services from and to other countries. A closed economy, on the other hand, does not engage in international trade and relies solely on internal production and consumption. A democracy is a political system of government, which is not directly related to a country's trade policies.

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