An Economy That Trades with the Rest of the World

question 145

Multiple Choice

An economy that trades with the rest of the world is a(n) :

• A) open economy.
• B) command economy.
• C) trade economy.
• D) closed economy.
• E) autarky.

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Definitions:

Store Locations

The physical places where retail businesses operate and to which consumers must travel to purchase goods.

Locations Changed

Refers to the process or act of moving or altering the position or setting of something or someone.

Category Management

A retail and supply chain management strategy where products are grouped and managed as strategic business units, allowing for more focused merchandising and marketing efforts.

Agents

Representatives or intermediaries in business transactions who act on behalf of others in negotiating deals or making sales.