Which Statement About the Division of Labor and the Exchange

question 87

Multiple Choice

Which statement about the division of labor and the exchange of goods and services is true?

• A)These concepts are, by and large, unique to humans.
• B)All cultural animals and social animals incorporate these concepts.
• C)All cultural animals, but only some social animals, incorporate these concepts.
• D)Not all social animals naturally incorporate these concepts, but they can learn them through imitation.

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Definitions:

Austria

A landlocked country in Central Europe, known for its mountainous terrain, historic cities, and rich cultural heritage.

Italy

A country located in southern Europe, known for its rich history, art, architecture, fashion, and cuisine, forming a boot-shaped peninsula into the Mediterranean Sea.

Value Creation

The process by which goods or services are provided that offer value to customers, thereby generating benefit to the producer or provider.

Comparative Advantage

a principle of economics that states a country or entity should produce goods and services for which it has a lower opportunity cost than its trade partners.