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emeraldminnow377Lv1

11 Dec 2019

The specialization by individuals or groups in the performance of specific economic activities is known as.....

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teacherrecoLv10

24 Aug 2023

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

Principles of Macroeconomics

ISBN: 9781947172388

Principles of Microeconomics

ISBN: 9781947172340

Related questions

Specialization and trade should lead to all of the following except:

A. Decrease in total economic output.

B. Individuals learning specific skills and earning a salary.

C. Higher living standards.

D. The exchange of goods and services in markets.

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Division of labor that works on a regional or international basis is known as _____ specialization.

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Voluntary trade promotes economic progress because it :

A. moves goods, services, and resources from people who value them more to individuals who value them less.

B. encourages individuals to become self-sufficient.

C. makes larger outputs possible as a result of specialization.

D. benefits buyers at the expense of sellers.

ceruleanimpala619

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