Commerce Exam  >  Commerce Notes  >  Economics Class 12  >  Mind Map: Open Economy

Mind Map: Open Economy | Economics Class 12 - Commerce PDF Download

Mind Map: Open Economy | Economics Class 12 - Commerce

The document Mind Map: Open Economy | Economics Class 12 - Commerce is a part of the Commerce Course Economics Class 12.
All you need of Commerce at this link: Commerce
64 videos|275 docs|52 tests

Top Courses for Commerce

FAQs on Mind Map: Open Economy - Economics Class 12 - Commerce

1. What is an open economy?
Ans. An open economy is one in which there are economic activities between the domestic community and outside. It allows the flow of goods, services, and capital across international borders.
2. How does an open economy differ from a closed economy?
Ans. In a closed economy, there are no international trade or financial transactions, while in an open economy, there is trade and capital flow between countries.
3. What are the benefits of an open economy?
Ans. Some benefits of an open economy include increased competition, access to a wider range of goods and services, and opportunities for economic growth through foreign investment.
4. What are some challenges of operating in an open economy?
Ans. Challenges of operating in an open economy include exposure to international market fluctuations, competition from foreign businesses, and the risk of capital flight.
5. How does government policy influence an open economy?
Ans. Government policy can affect an open economy through trade agreements, tariffs, subsidies, and regulations that impact the flow of goods, services, and capital across borders.
64 videos|275 docs|52 tests
Download as PDF
Explore Courses for Commerce exam

Top Courses for Commerce

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

Free

,

Mind Map: Open Economy | Economics Class 12 - Commerce

,

MCQs

,

Extra Questions

,

Semester Notes

,

video lectures

,

study material

,

Important questions

,

Mind Map: Open Economy | Economics Class 12 - Commerce

,

past year papers

,

Objective type Questions

,

shortcuts and tricks

,

Previous Year Questions with Solutions

,

practice quizzes

,

Mind Map: Open Economy | Economics Class 12 - Commerce

,

mock tests for examination

,

pdf

,

Sample Paper

,

Viva Questions

,

Summary

,

ppt

,

Exam

;