A society could achieve a higher level of production if ________.
A)each person in the society is a jack-of-all trades
B)each person specializes according to their comparative advantage
C)it does not trade with other nations
D)it does not have taxes on imported goods

Question

Quizplus · Accepted Answer

Specialization according to one's comparative advantage combined with trade between producers of different goods and services, allows a society to achieve a higher level of productivity and standard of living.

A Society Could Achieve a Higher Level of Production If