Why does saying that people are poor because they do not specialize make more sense than saying

Question:

Why does saying that people are poor because they do not specialize make more sense than saying that people perform their own services because they are poor?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

See More Books

Question Posted: Dec 12, 2015 04:25 AM

See More Questions

1) How does multitasking confuse the resource availability of project team personnel? 2) In modern organizations, it is impossible to eliminate multitasking for the average employee. Do you agree or...
After reading the below scenario answer the following questions: (a) Describe the proposed solution (or intervention) for the problem and the way(s) in which it is consistent with current evidence....
In the following exercise, you are required to review the Basis for Conclusions (BCs) for the standard(s) that provide the accounting guidance for this topic. Because the BCs is generally not...
Crosby is known for his advocacy of zero-defects management and prevention; Crosby's Quality Vaccine consists of which three ingredients? Group of answer choices A. Determination, Education, and...
1. What is the minimum sample size (of attempts) if the proportion is to be estimated within 2% with 95% confidence? What is the associated total cost? 2. What is the minimum sample size if the...
A mug contains 0.5 kg of liquid water at 50oC. (a) Determine the stored energy (E) of the system, neglecting the KE and PE. If 0.1 kg of liquid water at 10oC is is mixed with the warm water,...
Explain the difference between physical and logical schemas.
Suppose SSC has decided to distribute $50 million, which it presently is holding in very liquid short-term investments. SSCs value of operations is estimated to be about $1,937.5 million. SSC has...
Bell Canada stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15,700 units. Bell estimates its annual holding...
In this mini-case you will focus on performing one aspect of the test of details on the accounts payable balance ? the search for unrecorded liabilities. To Identify possible unrecorded liabilities...
Explain what "having a comparative advantage" at producing a particular good or service means. What does "having an absolute advantage" at producing a good or service mean?
How will a reduction in the number of hours worked each day affect an economy's production possibilities curve?
What are some specific tips that you would give a new manager for building trust with subordinates? With other managers?
Rialto Group received a grant from the government of 100,000 to acquire 500,000 of delivery equipment on January 2, 2015. The delivery equipment has a useful life of 5 years. Rialto uses the...
Presented below are two independent situations. Situation 1: Hatcher Cosmetics acquired 10% of the 200,000 ordinary shares of Ramirez Fashion at a total cost of $$14$ per share on March 18, 2015....
Chen Company issued its 9%, 25-year mortgage bonds in the principal amount of 30,000,000 on January 2, 2001, at a discount of 2,722,992 (effective rate of 10%). The indenture securing the issue...
Plant assets often require expenditures subsequent to acquisition. It is important that they be accounted for properly. Any errors will affect both the statements of financial position and income...
Accounting, Analysis, and Principles On January 1, 2015, Nadal Corporation had the following equity accounts. Share CapitalOrdinary (10 par value, 60,000 shares issued and outstanding) 600,000 Share...
Find the center of mass of a thin plate of constant density covering the given region. The region enclosed by the parabolas y = x 2 - 3 and y = -2x 2
Making use of the tables of atomic masses, find the velocity with which the products of the reaction B10 (n, ) Li7 come apart; the reaction proceeds via interaction of very slow neutrons with...
Which the following factors would impact a buyer's reservation price for a given good or service: social influence, the price of the good, or the cost of producing the item?
You are having lunch at an all-you-can-eat buffet. If you are rational, what should be your marginal utility from the last morsel of food you swallow?
Martha's current marginal utility from consuming orange juice is 75 utils per ounce and her marginal utility from consuming coffee is 50 utils per ounce. If orange juice costs 25 cents per ounce and...
What are the 2 main dimensions of an organizational culture we must consider when we initiate a lean deployment? Briefly explain each dimension
Mianzi, or face, is an important concept in Chinese negotiations and the wider environment of Chinese business culture. What does this concept mean?
Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the end of the current period, Emma looks over her inventory and finds that she has 1,400 units...

Why does saying that people are poor because they do not specialize make more sense than saying

Question:

Step by Step Answer:

According to Principle of Comparative Advantage people will perform their own ...View the full answer

Principles of Economics

Students also viewed these Economics questions