Closed economy is an economy, which does not have any sort of economic relation with rest of the world but is confined to itself only. A closed economy does not enter into any one of the following activities.
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When use of bank rate is not effective enough in regulating the volume of money and credit, the central bank can resort to the use of open market operations. This instrument refers to the practice of sale and purchase of commercial paper (like trade and exchange bills) and government securities in the market.
We live in a highly competitive as well as organized society. Its ever-increasing needs can only be met by expert or specialized knowledge. The specialist is in very great demand today and has rare opportunities for self-advancement. This has created a variety of new openings for our young men and even women.
A large room where all the departments, men and equipments are accommodated without partition wall is called an open office. In this case, staff is put in big hap instead of separate rooms.
An open office denotes a large hall where the entire staff are accommodated. In the large ball, departmental demarcation is done with the help of filing cabinets or shelves. Now-a-days most of the business houses have a tendency to go for open office but the idea of discarding private rooms may not be there.
When all men, departments and office equipments are accommodated in a single room without partition, it is called an open office. Under this system, the departmental divisions are made in shelves or filing cabinet.