Which type of economy aims to be self-sufficient?

• A. Market economy
• B. Command economy
• C. Mixed economy
• D. Autarky

Answer: (D)

Verified step by step guidance

1. Understand the concept of 'autarky' in economics, which refers to an economy that aims to be self-sufficient and does not rely on international trade.
2. Review the characteristics of different types of economies: a Market economy relies on supply and demand with minimal government intervention; a Command economy is centrally planned by the government; a Mixed economy combines elements of both market and command systems.
3. Recognize that none of the listed options (Market economy, Command economy, Mixed economy) explicitly describe an economy that is self-sufficient by definition.
4. Identify that 'Autarky' is the term used to describe an economy that aims to be self-sufficient, meaning it produces all goods and services it needs without external trade.
5. Conclude that the correct answer to the question about which type of economy aims to be self-sufficient is 'Autarky', as it directly represents the concept of economic self-sufficiency.