An Economy That Is Self-Contained and Does Not Engage in Any

question 107

Multiple Choice

An economy that is self-contained and does not engage in any trade with outsiders is a(n) :

• A)autarky.
• B)oligopoly.
• C)oligarchy.
• D)monarchy.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increased interconnectedness of the world's economies, cultures, and populations.

Cosmopolitanism

An ideology or disposition characterized by an openness and appreciation of diverse cultures, beliefs, and backgrounds.

Tourists

Individuals who travel to and stay in places outside their usual environment for leisure, business, or other purposes for not more than one consecutive year.

Civilization

An advanced state of human society, characterized by the development of complex institutions, knowledge, arts, and customs.