An economy which has extensive and largely unimpeded transactions with other countries. Distinct from a closed economy that imposes severe trade restrictions.
an economy that is actively engaged in international trade
An economy that permits transactions with the outside world, at least including trade of some goods. Contrasts with closed economy.
An economy free of trade restrictions.
A country where there are no restrictions on trading with other countries.
An economy that interacts freely with other economies around the world. Contrast with closed economy.
An open economy is an economy in which people, including businesses, can trade in goods and services with other people and businesses in the international community at large. This contrasts with a closed economy in which international trade cannot take place.
