autarkic
(adjective)
The quality of being self-sufficient, especially in economic or political systems.
Examples of autarkic in the following topics:
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Understanding Production Possibilities
- When countries' autarkic productions are added (when there is no trade), the total quantity of each good produced and consumed is less than the world's PPF under free trade (when nations specialize according to their comparative advantage).
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The Economy under the Ming Dynasty
- Although images of autarkic farmers who had no connection to the rest of China may have some merit for the earlier Han and Tang dynasties, this was certainly not the case for the Ming dynasty.