Do we include government in a closed economy?
Dear Student
A closed economy is the one which does not have trade relations with the rest of the world. Government is included as it is a part of the economy itself.
Hope this information clarifies your doubts. Keep posting :-)
Regards
A closed economy is the one which does not have trade relations with the rest of the world. Government is included as it is a part of the economy itself.
Hope this information clarifies your doubts. Keep posting :-)
Regards