With specialization in a market economy, individual

A) firms produce a wide range of products.
B) producers consume little or none of the products they produce.
C) producers consume most of the output that they produce.
D) consumers have to produce most of what they consume.

Question

Kimberlin Arnold · Accepted Answer

Final Answer : B, Explanation :  Specialization in a market economy means that producers focus on producing a limited range of goods or services. This allows for efficiency and expertise in those areas. However, it also means that producers will consume little to none of the products they produce themselves, as they rely on trading their specialized goods or services for the other products they need or want.

With specialization in a market economy, individual

A) firms produce a wide range of products.
B) producers consume little or none of the products they produce.
C) producers consume most of the output that they produce.
D) consumers have to produce most of what they consume.

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Learning Objectives

Related questions

With specialization in a market economy, individualA) firms produce a wide range of products.B) producers consume little or none of the products they produce.C) producers consume most of the output that they produce.D) consumers have to produce most of what they consume.

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Learning Objectives

Learning Objectives

Related questions

With specialization in a market economy, individual

A) firms produce a wide range of products.
B) producers consume little or none of the products they produce.
C) producers consume most of the output that they produce.
D) consumers have to produce most of what they consume.