The argument(s) against closed economies and government intervention is/are _____ .

A closed economy is one that does not engage in international trade, relying solely on its internal market to fulfill the needs of its citizens. Arguments against closed economies typically highlight several negative implications.

One major concern is that closed economies can lead to higher prices for goods and services. Without the competition and variety that come from international markets, domestic producers face less pressure to innovate or lower prices, potentially resulting in less favorable prices for consumers.

Additionally, while government intervention may seem beneficial, it can often create inefficiencies and misallocations of resources. In the context of closed economies, government actions might stifle the natural competitive forces that drive innovation and economic growth. This can lead to fewer job opportunities compared to a more open economy where businesses can expand into international markets, attract investment, and create more jobs.

Furthermore, closed economies often fail to provide sufficient benefits to less developed countries. These nations typically rely on trade and foreign investment to develop their economies. By isolating themselves, closed economies limit the potential for development aid, investment, and technological exchange which can help these countries grow.

Thus, the correct answer reflects that all these arguments—higher prices, fewer job opportunities, and fewer benefits for less developed countries—illustrate the drawbacks of closed economies and excessive