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Closed economy |
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Closed economyAn economy that does not permit economic transactions with the outside world; a country in autarky.Similar MatchesMarket economyMarket economyA country in which most economic decisions are left up to individual consumers and firms interacting through markets. Contrasts with central planning and non-market economy. Integrated World EconomyIntegrated World EconomyA hypothetical, theoretical benchmark in which both goods and factors move costlessly between countries. The IWE is associated with a retangular diagram depicting allocation of factors to countries, showing conditions for FPE. The name was coined by Dixit and Norman (1980), but the concept and technique was introduced by Travis (1964). Mixed economyMixed economyAn economy in which some production is done by the private sector and some by the state, in state-owned enterprises. Non-market economyNon-market economyA country in which most major economic decisions are imposed by government and by central planning rather than by free use of markets. Contrasts with a market economy. New EconomyNew EconomyThis term was used in the late 1990's to suggest that globalization and/or innovations in information technology had changed the way that the world economy works. Conjectures included changes in productivity, the inflation-unemployment tradeoff, the business cycle, and the valuation of enterprises. Further SuggestionsRadical political economyGoldilocks economy Mature economy Small open economy Political economy of protection Political economy Emerging economy Open economy Tiger economy Open-economy multiplier Bubble economy Command economy External economy Newly Industrializing Economy Ministry of Economy, Trade and Industry old economy stocks Goldilocks economy Barter economy External diseconomy Pure exchange economy black economy |
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