An Economy That Doesn't Interact Economically with the Rest of the World

question 19

Multiple Choice

An economy that doesn't interact economically with the rest of the world is called ________ economy.

• A)a closed
• B)an open
• C)a surplus
• D)an authoritarian

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Definitions:

NAFTA Trade Agreement

Refers to the North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that aimed at eliminating most tariffs and barriers to trade and investment among the three countries.

Cross-Border Merger

A Cross-Border Merger involves the combination of companies from different countries to create a single global entity, aiming to expand market reach and optimize resources.

North America

A continent located in the northern hemisphere, mainly between the Atlantic and Pacific Oceans, comprising countries like the United States, Canada, and Mexico.

Internationalization Process

The strategic process that a company undergoes to expand its operations and presence into foreign markets.