Which of the Following Best Explains the Term "Specialization" with Respect

question 171

Multiple Choice

Which of the following best explains the term "specialization" with respect to trade?

• A) Specialization occurs when a people concentrate their productive resources on the goods and services they can produce most efficiently.
• B) Specialization occurs when one person can produce more of a particular good than another person.
• C) Specialization refers to the absolute advantage that a person enjoys in the production of goods and services.
• D) Specialization refers to the ability of a person to produce more of a good than his or her trading partners.

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Definitions:

Parasympathetic

A component of the autonomic nervous system responsible for energy conservation by reducing the heart rate, enhancing activity in the intestines and glands, and loosening the sphincter muscles within the gastrointestinal tract.

Sympathetic

Part of the autonomic nervous system that prepares the body for 'fight or flight' responses, increasing heart rate and blood flow to muscles.

Nervous System

A network of billions of cells in the brain and the body, responsible for all aspects of what we think, feel, and do.

Endocrine System

A network of glands that produce and release hormones into the bloodstream, regulating body processes.