10
QuizMultiple Choice

Economic Systems — Quiz

Question 10 • Economics

What restriction would the government impose in a closed economy?

Answer
A
The government would prevent private ownership of property.
B
The government would preserve traditional customs only.
C
The government would set the prices for imported goods.
D
The government would prohibit trade with other nations.

Explanation

A closed economy does not engage in trade with other nations. Therefore, the government would prohibit international trade, which is choice B. A closed economy does not necessarily eliminate private property or preserve only traditional customs.

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