Which of the Following Statements About Specialization and Trade Are

question 31

Multiple Choice

Which of the following statements about specialization and trade are correct?

• A)They developed only in the twentieth century.
• B)They exist only in capitalist economies.
• C)They arose as humans changed from nomadic and self-sufficient food gatherers to settled food producers.
• D)They developed only where government and political institutions were stable.
• E)They occur only in the private sector.

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Definitions:

Self-Performing Work

Self-performing work involves a company or team directly executing tasks or functions using its own resources and personnel, rather than subcontracting.

Outsourcing

The practice of hiring third parties to perform services or create goods that traditionally were performed in-house by the company's own employees.

Solicitation

The act of requesting or seeking bids, proposals, or quotes from vendors for the supply of goods or services.

Bidders

Entities or individuals that propose their services or products in response to a request for proposal or tender.