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Is it possible?
YES. The idea of maintaining complete self-sufficiency in goods and services within one country is called AUTARKY and is a policy that has been practiced by a number of countries historically.
Is it good policy?
NO. One of the few countries that practices autarky today is North Korea. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society. As a result of autarky, the country remains in grinding poverty.
Kirsten Dickens
Wiki User
∙ 7y agoIs it possible?
YES. The idea of maintaining complete self-sufficiency in goods and services within one country is called AUTARKY and is a policy that has been practiced by a number of countries historically.
Is it good policy?
NO. One of the few countries that practices autarky today is North Korea. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society. As a result of autarky, the country remains in grinding poverty.
Wiki User
∙ 6y agoYes
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What an example of macroeconomics issue?
How to avoid the occurrence of economic depressions and slumps.
To avoid economic collapse in the early 1980s Mexico had to do what?
make painful reforms
Why do countries need economic systems?
I don't think you know what an economic system means. Every single country, every single state, every single city, every town and every house have an economic system. Economics is simply the study of the choices people make under limited resources (money, time, actual resources etc). So two people trading in the middle of the desert are using an economic system.
How would the U.S. government most likely react to a boom in the economy?
raise taxes to avoid-out-of-control economic growth
Which scenario describes a mass migration caused by economic factors?
Members of one religious group leave a country to escape discriminatory policies.
Why do you think a good government is necessary for a Golden Age to develop?
To avoid as much corruption and fear as possible, and promote economic prosperity.
What was the modified capitalist system Lenin used to avoid economic disaster?
Lenin called it the "New Economic Policy." It was more of a modification of the socialist system, which Lenin had imposed on the country than a modification of the former capitalist system.
Modified capitalist system Lenin used to avoid economic disaster?
New economic policy.
Is it possible to avoid becoming corrupt?
no
To maneuver a vehicle to avoid possible conflicts-?
Stay in you lane in order to avoid possible conflicts
What an example of macroeconomics issue?
How to avoid the occurrence of economic depressions and slumps.
What should dogs avoid eating?
If possible all human food, but if that's not possible or you don't want to do it, definitely avoid chicken bones.
Why discard all waste matter in the appropriate containers?
- to avoid dangerous contamination of the environment- to make possible recycling thus making savings- to maintain the cleanliness of the country
To avoid economic collapse in the early 1980s Mexico had to .?
make painful reforms
To avoid economic collapse in the early 1980s Mexico had to do what?
make painful reforms
What was schlieffen country trying to avoid by implementing the schlieffen plan?
Schlieffen country(germany) was trying to avoid two wars on two fronts
When to avoid Italy?
Never.... you should NEVER avoid this beautiful country known as Italy.
