A private closed economy includes
A) households, businesses, and government, but not international trade.
B) households, businesses, and international trade, but not government.
C) households and businesses, but not government or international trade.
D) households only.

Question

Quizplus · Accepted Answer

A private closed economy includes households and businesses, but excludes both government and international trade, focusing on the internal economic activities between private entities.

A Private Closed Economy Includes