How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?
Correct answer: A. Open door market
- A. Open door market
- B. Open door country
- C. Open sky market
- D. Free economy
Explanation
An open-door market or policy gives traders from different countries equal access without granting exclusive monopolies or preferences. The other options do not name this principle of nondiscriminatory trade.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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