The disadvantage of Open economies is that trading goods and services which the country domestically specializes in could be a drawback since they might fall short of the supply of those goods and services according to the required demand. a good example of this is Thailand. The country specializes mainly in stable food such as rice production .excessive exporting to raise money and capital causes a shortage of supply for the domestic consumers. It creates low interest rates and subsidies .When Americans invested in housing in other countries they didn't benefit fully from investment because there is a split between the people who own the capital and the owners of labor it created debt, the money was tied up in housing.with an open economy there is no gain through foreign exchange either.
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.
The market economy has many advantages, but it also has its share of disadvantages. Two of the main disadvantages are that this type of economy can be very unstable and it tends to cause a large gap in the distribution of income.
advantages and disadvantages of market economy
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
It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.It is an open economy.
its costly than open loop system and bulky, too.
its closed
The government of North Korea is mostly closed to the outside world. This makes for a pretty stagnant economy. The government of South Korea is more open, and has a more vibrant economy.
"Show" is open, "and" is closed. O- is open, -pen is closed. "Closed" is closed.
An economy that does not import or export goods
Large open economy.
One open, one closed.
a construction site?
open