Closed Economy

Autarky
Autarky refers to the policy of establishing a self-sufficient and independent national economy, aiming to reduce or eliminate dependence on international trade.
Closed Economy
A self-sufficient economic system where all production and consumption activities occur within the confines of the system, with no external trade (importing or exporting).

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.