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Explain Open Economy With there Characteristics …

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Explain Open Economy With there Characteristics in long answer

Posted by Ash Varshney 4 years, 10 months ago

CBSE > Class 12 > Economics

1 answers

Sia ? 4 years, 5 months ago

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). Additionally, consumers have an opportunity to invest their savings outside the country. There are also economic disadvantages of an open economy.

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