In a system of impersonal exchange,
A)bureaucratic ties on the production side are critical
B)the economy benefits from specialization and modern technology
C)inside connections on the consumption side are necessary
D)successful institutional evolution makes no difference
E)there is very little division of labor

Question

Quizplus · Accepted Answer

In a system of impersonal exchange, the economy benefits from specialization and modern technology because the exchange occurs without personal relationships or connections between the parties involved. This means that each party can focus on their strengths and use modern technology to enhance efficiency and productivity. Bureaucratic ties and inside connections are not necessary in impersonal exchange, and the level of division of labor will vary depending on the specific exchange system. Successful institutional evolution can also have an impact on the system, but it is not directly related to the characteristics of impersonal exchange.

In a System of Impersonal Exchange