Multiple Choice
Which of the following provide the best evidence of specialization?
A) a firm that produces a line of related products, such as eight kinds of breakfast cereal
B) an architect who is willing to practice in only one geographic area
C) a physician that practices in a specialty area such as cardiology or orthopedic surgery
D) a family that eats at Wendy's every Thursday night
E) a retailer that sells goods but provides no services
Correct Answer:
Verified
Correct Answer:
Verified
Q134: Because resources are not perfectly adaptable to
Q135: If Evan has an absolute advantage in
Q136: An improvement in technology would<br>A)enable the economy
Q137: Adam Smith believed that people's pursuit of
Q138: In a command economy<br>A)a dictator makes every
Q140: When drawing a production possibilities frontier, all
Q141: At various points along the production possibilities
Q142: The typical concave (i.e., bowed-out)shape of the
Q143: The set of mechanisms and institutions that
Q144: All of the following are evidence of