Small open economy


 

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Small open economy

An economy that is small enough compared to the world markets in which it participates that (as a good approximation) its policies do not alter world prices or incomes. The country is thus a price taker in world markets. The term is normally applied to a country as a whole, although it is sometimes used in the context of only a single product.



Similar Matches

Newly Industrializing Economy

Newly Industrializing Economy

Newly Industrializing Country


Closed economy

Closed economy

An economy that does not permit economic transactions with the outside world; a country in autarky.


Mature economy

Mature economy

The economy of a nation with a stable population and slowing economic growth.


Non-market economy

Non-market economy

A 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.


Market economy

Market economy

A 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.


Further Suggestions

Radical political economy
Open-economy multiplier
Bubble economy
Mixed economy
black economy
old economy stocks
Integrated World Economy
Pure exchange economy
Open economy
Ministry of Economy, Trade and Industry
Emerging economy
Political economy
External diseconomy
Political economy of protection
External economy
Goldilocks economy
Barter economy
Command economy
New Economy
Tiger economy
Goldilocks economy


 
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