The most important economic benefit from specialization is that it
A)makes it possible for an economy to begin using money.
B)leads to an increase in the standard of living in an economy.
C)makes barter possible.
D)eliminates the need for financial markets.

Question

Quizplus · Accepted Answer

Specialization allows individuals to focus on producing goods and services they are most efficient at, leading to an increase in productivity and output. This increased efficiency leads to lower costs and increased profits, which ultimately leads to an increase in the standard of living in an economy.

The Most Important Economic Benefit from Specialization Is That It