Questions: What restriction would the government impose in a closed economy? The government would prohibit trade with other nations. The government would set the prices for imported goods. The government would preserve traditional customs only. The government would prevent private ownership of property.

The answer is: The government would prohibit trade with other nations.

In a closed economy, the primary characteristic is the absence of trade with other nations. This means that the government would impose restrictions to prevent any import or export activities, ensuring that all goods and services are produced and consumed domestically.

This option is not applicable in a closed economy because there would be no imported goods to set prices for, as trade with other nations is prohibited.

While preserving traditional customs might be a feature of some economies, it is not a defining characteristic of a closed economy. A closed economy is defined by its lack of international trade, not by its adherence to traditional customs.

Preventing private ownership of property is more characteristic of a command or socialist economy rather than a closed economy. A closed economy can still have private ownership of property; its defining feature is the prohibition of international trade.