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Open Economy |
Also found in: Wikipedia | 0.01 sec. |
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Open Economy An economy in which participants are permitted to buy and sell goods and services with other countries. The GDP of open economies includes exports (which add to GDP) and imports (which subtract). Some very open economies have few or no trade restrictions such as tariffs, but this is rare in practice. Nearly every economy in the world is an open economy to a greater or lesser extent. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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