1. A trade or profession that restricts entry through licensing, apprenticeship requirements, or guild membership, limiting competition and access
Medicine is a closed trade that requires years of education and licensing.
Medicina é um comércio fechado que exige anos de educação e licenciamento.
2. In economics, a market or industry that has barriers to entry preventing new competitors from easily joining
The closed trade in telecommunications limited consumer choice for decades.
O comércio fechado em telecomunicações limitou a escolha do consumidor por décadas.
3. A commercial transaction or business deal between established parties with restricted access to outsiders
The closed trade agreement only allowed members of the association to participate.
O acordo comercial fechado permitia apenas a participação de membros da associação.