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Specialization in production is economically beneficial primarily because it:

a. allows everyone to have a job that he or she likes.
b. permits the production of a larger output with fixed amounts of resources.
c. facilitates trade by bartering.
d. guarantees full employment

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Sonia Dhawan
Sonia DhawanLv10
16 Jan 2021

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Related questions

Specialization in production is important primarily because of it:

a. results in greater total output.

b. allows society to avoid the problem of shortages.

c. allows society to trade by barter.

d. allows society to have fewer capital goods e. allows society to avoid the problem of surpluses.

215. Economists examine pollution from the perspective of the:
A) preferences of people.
B) intensity and duration of the harm to resources.
C) desires of government bureaucrats.
D) intent of business firms in the maximization of profits.

212. Free trade is beneficial because it:
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206. If a country has a comparative advantage in the production of a good:
A) it can produce that good at a lower opportunity cost.
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C) it will not find trade beneficial because other countries won't have a comparative advantage in other goods.
D) it must also have an absolute advantage in the good.

203. Which of the following statements is true?
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The United States currency has value primarily because it

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D. Facilitates trade, is legal tender, and permits the use of credit cards and near monies.

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