Which of the following is a good example of efficient specialization and voluntary exchange?
A)A college professor hires someone to rototill a garden for spring planting.
B)A college professor works on the engine of a car for a neighbor who is a mechanic.
C)A lawyer decides to babysit his young child and agrees to do so for others for cash.
D)A physician agrees to help a neighbor work on her income tax return in exchange for her bookkeeping services.

Question

Quizplus · Accepted Answer

The college professor hiring someone to rototill a garden is an example of efficient specialization and voluntary exchange because the professor is likely more efficient in their field of expertise and chooses to pay someone who specializes in gardening tasks, allowing both parties to benefit from their respective skills.

Which of the Following Is a Good Example of Efficient