Consider a world without markets. a. Why is money not necessary in this world? b. Does specialization

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Consider a world without markets.

a. Why is money not necessary in this world?

b. Does specialization exist in this world? Explain.

c. Is exchange a feature of this world and, if so, what role do you think bargaining plays between the parties to any exchange?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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