closed economy

closed economy definition - business

closed economy

An economy that attempts to be self-sufficient and does not participate in international trade. Compare open economy. See also autarky.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.