By "specialization" economists mean a situation where
A) individuals produce the goods or services for which they have relatively the best ability.
B) goods are traded directly for goods and money is not used.
C) individuals who produce goods do not also produce services and individuals who produce services do not also produce goods.
D) individuals are assigned to occupations on the basis of tests that gauge their relative abilities.
Correct Answer:
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Q2: Barter is
A)another name for money.
B)an exchange of
Q3: Under a barter system
A)each good has many
Q4: How many prices would there be in
Q5: When an economy relies on specialization,
A)the economy
Q6: The most important reason why economies at
Q7: The most important economic benefit from specialization
Q8: Fundamentally, to reap the benefits of specialization,
Q9: Movements in the money supply are associated
Q10: Which of the following is an example
Q11: The collapse of economic systems in Eastern
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