Autarky | Self-sufficiency, Trade Barriers Protectionism | Britannica . . . Autarky is an economic system of self-sufficiency and limited trade A country is said to be in a complete state of autarky if it has a closed economy, which means that it does not engage in international trade with any other country Historically, societies have utilized different levels of autarky
Understanding Autarky With Real-World Examples - Investopedia A related term, autarky price or autarkic price, refers to the cost of a good in an autarkic state The cost of producing in a closed economy must be covered by the price charged for the good