In which economic model is international trade completely absent?

A closed economy is characterized by the absence of international trade, meaning that it does not engage in the import or export of goods and services with other countries. The focus is entirely on domestic production and consumption. In this scenario, all economic activities take place within the borders of the country, utilizing only the resources available locally. This model can be useful for understanding the impacts of self-sufficiency and internal market dynamics, without the influence of external economic factors.

In contrast, an open economy actively engages in international trade, a mixed economy incorporates elements of both capitalism and socialism, and a capitalist economy primarily focuses on private ownership and market-driven practices, often incorporating international trade as a key component of economic growth and development. Hence, the closed economy model distinctly emphasizes the lack of any international trade engagement.