When an economy relies on specialization,

A. the economy will generally produce only one product.

B. the economy will usually be heavily agricultural.

C. each individual will be assigned by the government to produce that good or service the government believes the economy should specialize in.

D. each individual in the economy produces the goods or services for which he or she has relatively the best ability.

Question

Business

Alison Cervantes

18 October, 06:22

When an economy relies on specialization,

A. the economy will generally produce only one product.

B. the economy will usually be heavily agricultural.

C. each individual will be assigned by the government to produce that good or service the government believes the economy should specialize in.

D. each individual in the economy produces the goods or services for which he or she has relatively the best ability.

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Answers (1)

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The correct answer is option D.

Explanation:

Specialization in the economy can be defined as the situation in which an individual or nation produces a limited variety of goods in order to increase efficiency. Specialization improves the standard of living of the people.

If an economy relies on specialization each individual will produce the goods or services that he/she specializes in or has the relatively best ability to produce.

The economy produces the good or services it has the relatively best ability to produce, it relies on trade for other goods.