A) Closed economy
B) Mixed economy
C) Open economy
D) Free trade economy
E) Public economy
Correct Answer: B
Solution :
An economy in which there is a large private sector and a large public sector, neither of which predominates over the other, is called Mixed Economy. A hypothetical self-sufficient economy that functions in the absence of international exchange is called Closed Economy. An economy in which there are no restrictions on trade with areas outside that economy is called Open Economy.
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