An economy that has no interaction with other economies around the world is said to be closed and an open economy is one that freely interacts with other economies across the world.
<h3>What do you mean by open market?</h3>
A market that is open to competition has little to no restrictions on how businesses can operate. Tariffs, taxes, licensing requirements, subsidies, unionization, and any other laws or practices that obstruct free-market activity are not present in an open market.
<h3>What is a closed economy?</h3>
A nation with a closed economy is one that conducts no commerce or other financial transactions with any other nations. That indicates that neither imports nor exports enter the nation.
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Answer: This is a habit because it is something fine daily with no reminder, apart of his/ her day. It's self discipline because it is something done by his/ her own regard no force from anyone else required. He/she has set a goal for him/ her self and had a daily routine in place for achieving that goal.
Explanation:
Answer:
$14
Explanation:
Fee from customers = $4
Fee from producer = $10
Total Fee income received = 10+4 = $14
$14 should be recognized as income for each Riverdance ticket sold.
Ticket Now has sold the ticket (which is assumed to be nonrefundable) and it has performed what is required (to sale the tickets), so recognize the revenue of $14.
Answer:
the principal amount at a rate of 4% is 2000
principal amount at a rate of 3.5% is 4000-2000 =2000
Explanation:
We have given total amount borrowed = $4000
Let x amount is borrowed at a rate of 4%
So $4000-x is borrowed at rate of 3.5%
Total interest = $150
We know that simple interest
So
0.5 x=1000
x = 2000
So the principal amount at a rate of 4% is 2000
And principal amount at a rate of 3.5% is 4000-2000 =2000