Which term below describes a situation in which a nation engages in no trade and produces everything it consumes?
A) anarchy
B) oligarchy
C) autarky
D) embargo

Question

Quizplus · Accepted Answer

Autarky means a situation in which a nation is self-sufficient and does not engage in any external trade. It produces everything it needs and consumes, relying entirely on its own resources. This is a rare and usually unsustainable economic model for any nation as it limits access to resources that may not be available domestically.

Which Term Below Describes a Situation in Which a Nation