Answer:
If you judged David Hume the man by his philosophy, you may judge him as disagreeable. He was a Scottish philosopher who epitomized what it means to be skeptical – to doubt both authority and the self, to highlight flaws in the arguments of both others and your own.
Explanation:
Explanation:
Barbed wire played a central role in the development of the Wild West. The “Devil's Rope” transformed the plains from an expansive open range into a set of defined and enforced tracts of cattle land and farm ground, buttressing property rights and facilitating a boom in economic productivity.
Answer:
- Gains from trade
- Consumer Satisfaction
- Greater Efficiency
- Growth Opportunities
Explanation:
According to Investopedia, specialization is a method of production where an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
A country can specialize on the production of a particular commodity or service that is peculiar to their part of the world giving them the opportunity to become very efficient and have more opportunities for growth. Some of the benefits of specialization in a country include;
- Economies of scale/ greater efficiency: A country that is involved in specialized production will have very efficient production because the more focus they have on one task, the more efficient they become at this task which reduces the time and money involved in producing a good.
- Gains from trade: Two countries that both have comparative advantages on different products will benefits greatly if they continue in their specialized products and trade. For example country X produces fabric at a very cheap rate and country Y produces rice at a very cheap rate. It will cost country X a greater amount to start rice production than to just trade and get rice from country Y and vice versa. So both countries benefit from specializing and trading.
- Growth Opportunities: A country can gain access to the world market which allows them to grow bigger and in turn increase their efficiency.
- Consumer Satisfaction: Specialization means that cost of production is lower which makes the cost of goods relatively cheaper.
Richard Cordray is the director of the consumer financial protection bureau.
Explanation:
He says that the American households lack checking or savings account which will make them rely on costly financial services will just add burden to their savings. He also addresses that as the people become old, they need their money to be protected and easily accessible.
He says that family households must turn their focus towards banking as it creates a connect to the future. He also adds that by understanding this problem from the young age, people would start feeling the significance of managing the financial systems.
