Monopoly in international trade
Imposition of restrictions in international trade
Removal of all restrictions from international trade
The idea of self sufficiency and no international trade by a country
Answer is Right!
Answer is Wrong!
The correct answer is D. Autarky is the economic policy of a country which aims to achieve self-sufficiency in all aspects of economic activity, especially with reference to the production of goods and services. Autarky is often pursued as a way to protect a country’s economy from the volatility of the global market. However, it can also lead to inefficiencies and higher prices for consumers.
Option A is incorrect because monopoly is a market structure in which there is only one seller of a good or service. Option B is incorrect because the imposition of restrictions in international trade is known as protectionism. Option C is incorrect because the removal of all restrictions from international trade is known as free trade.