Examlex
When an individual, who is part of a larger group, chooses to put forth less effort than other group members, _____ occurs.
Economy
The method by which goods and services are produced, distributed, and consumed in a specific geographical area.
Specialization
The process of focusing effort and resources on a particular area of expertise or production to increase efficiency and output.
Barter System
An economic system where goods and services are directly exchanged for other goods and services without the use of money.
Monetary Exchange
The process of trading goods and services using money as a medium of exchange rather than direct barter.
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