You have to pay more attention at class to understand the question dummmie..!!
The correct answer is C) Is softer than a diamond. Hope this helps.
Answer: An example of a closed economy would be North Korea
Explanation: A closed economy is a self-sustained economy with no trading or business relations with any other economy outside it. A closed economy has little exposure to the outside world.
A closed economy can almost always be described as a command economy
Often, the more closed an economy is, the poorer the country.
Answer:
The economic system in question is the command economic system.
Explanation:
There are multiple different types of economic systems across the world, and of them is the command economic system. This economic system is typical for communist societies. It has reached its peak in popularity during the second half of the 20th century, but since the 1990's it has experienced a sharp decline and is now practiced in much fewer countries.
The command economy is an economic system that is fully controlled by the government. The government owns all of the resources and facilities. It is making plans for how much, what, when, and at what price goods will be produced. People have very limited choices and often lack certain goods that are very important.
