Statement I: We could not have a modern,highly productive economy without specialization and trade.
Statement II: In modern economies,virtually everyone is a jack-of-all-trades.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

Statement I is true because specialization and trade allow individuals and businesses to focus on what they do best and exchange goods and services with others who specialize in different areas. Statement II is false because modern economies are characterized by highly specialized roles and professions, with individuals often focusing on a narrow skill set or area of expertise.

Statement I: We Could Not Have a Modern,highly Productive Economy