Open economy's will export & import goods and services.
Closed economies put heavy restrictions on importing goods and services. The closed economies can put restrictions on through tarrifs, and laws to protect it's citizens jobs, resources, and management.
Some have mixed economies like Russia. The airline industry in Russia will only hire Russian Piolets. This is creating a shortage of piolets and therefore increase the wages for the jobs. However, Russia still imports many other goods & services.
Another example of closing the economy is Thiland is restricting the export of rice. Thiland is the #1 exporter of rice in the world. This is creating shortags world wide and felt most severly in African nations.
no
By open economy it means that economy in which private people are allowed to participate in making economic decisions while,by closed economy it means the economy in which the government is the one planning for the whole society
Large open economy.
it is a flow of cash between businesses,fims
The supply of loanable funds slopes upwards in an open economy because there are more funds available. An open economy allows for more money to be put into the economy.
one is open and the other is closed
the difference between open and closed population is that ...................................................................................................................................................................... go some where else to find the answer not on wiki awners.com
There is one major difference between an open DNS and a closed DNS. Open DNSs allow multiple users to connect easily while closed ones do not allow more users.
there is no difference. they are both 42.
Shoes are closed in and Sandals are open.
no
Public is open, private is closed.
N
By open economy it means that economy in which private people are allowed to participate in making economic decisions while,by closed economy it means the economy in which the government is the one planning for the whole society
Gutters are normally open Sewer piping is closed
an inlet has a closed end a straight is open both ends
Pressure rises in the tube.