An economy with no international trade is described as

• A. Globalisation
• B. Interdependence (economy)
• C. Closed economy
• D. Open economy

Answer: (C)

The main idea here is whether a country trades with other nations. An economy with no international trade is described as a closed economy. In a closed economy, all goods and services are produced and consumed domestically, with no imports or exports, so net trade is zero. This simplifies the national income picture to Y = C + I + G, since exports minus imports vanishes. Globalisation or an open economy would involve cross-border flows and integration with world markets, while interdependence usually comes from mutual reliance that includes trade. So the term that best fits the scenario is closed economy.