Which Statement Best Defines a Closed Economy

question 48

Multiple Choice

Which statement best defines a closed economy?

• A) It does not trade with other economies.
• B) It does not have free markets.
• C) It does not allow immigration.
• D) It does not have freedom of entry and exit.

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Definitions:

Assumptive Close

A sales technique where the salesperson assumes that the customer has already decided to purchase and closes the sale under that assumption.

Urgency Close

A sales technique that creates a sense of urgency to encourage immediate buying decisions, often through limited-time offers or scarcity.

Decision Confirmation

The process by which individuals seek to validate their choices through additional information or feedback from others.

Trial Close

A sales technique where the seller proposes a closing question or statement to gauge the buyer's readiness to complete the purchase.