Specialization and trade allow individuals to:

Question

Quizplus · Accepted Answer

Specialization and trade allow individuals to consume goods and services that are outside their own production possibilities frontiers (PPFs). This is because they can specialize in producing the goods and services that they are good at producing and then trade with others who are good at producing the goods and services they aren't good at producing. This allows for a more efficient use of resources and a greater variety of goods and services available for consumption.

Specialization and Trade Allow Individuals To