What is a closed economy?

+1 vote

asked Aug 28, 2018 in Economics by kratos

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+2 votes

answered Dec 7, 2020 by kratos

Best answer

A closed economy is one, which has no economic relations with the rest of the world.

In which circumstances compulsory dissolution is happen?
A, B and C’s profit sharing ratio is 1 : 2 : 2. Before debiting realization loss partners capital account balance are Rs 3,000 (Dr.),
”There is a difference between dissolution of partnership and partnership firm.” Explain this statement.
Explain Garner V/S Murray rule.
At the time of dissolution of the firm, partners capital Rs 20,000, liabilities Rs 15,000 and cash balance

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