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sweet-ann [11.9K]
3 years ago
8

Explain how money encourages specialization, and how specialization improves everyone's standard of living.

Business
1 answer:
ad-work [718]3 years ago
6 0

Specialization improves the  standard of living of each and every member of a society because if the number of  people who specialize  in certain areas increase they  will be able to innovate new things which will make life easier for all the people.

Explanation:

Money helps in improving specialization because it is with the help of money only  we can import and export to other countries.

Lets take an example :Suppose China  specializes in making cheap Plastic products it is only possible through the usage of appropriate machinery required for the production of Plastic items.China needs to import the machinery from USA for that it needs money and if china has money it can use the money to buy those machinery .Thus we can say that specialization is linked with money.

Now ,another aspect of the question is that as a country specializes in production of a particular item /product ,its exports will increase .The demand for its product will increase ,so more income is coming from outside the company,thus the standard of living of the people also improves with specialization.

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grigory [225]

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D

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Jason is a manager. His colleagues and subordinates look up to him as a man who always does the right things. Along with other s
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3 years ago
Boris tells a colleague all about a major prospect Boris plans to call on in the next few days and asks the colleague to pretend
Fittoniya [83]

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b. role playing is the correct answer.

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This situation Boris and his colleague are engaged in role-playing.

  • Role-playing means imitating the behavior and role of someone else.
  • It takes place among two or more than two people that act the roles to explore the particular scenario.
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6 0
3 years ago
Banks subject to reserve requirements set by the Federal Reserve System include:
Yuki888 [10]

Answer:

b. all banks whether or not they are members of the Federal Reserve System.

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You work for a food-processing plant that manufactures corn tortillas. You have been asked to review the activities of upstream
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A) Contacting the farming cooperative to negotiate the price of corn for your upcoming contract.

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