Compared to the natives of Northern America, ownership of private property rights was
(a) more common to the Europeans than it was to the natives
(b) more common to the Indians than to the Europeans.
(c) the same.
(d) of no value to either group.
(a)
Economics
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Specialization and exchange result in
a. lower production levels than would otherwise be possible b. higher living standards than would otherwise be possible c. more down-time as workers switch activities more frequently d. the assignment of workers to activities according to their preferences e. self-sufficiency
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According to the law of comparative advantage, individuals and economies should specialize in producing those goods and services in which they have a comparative advantage
a. True b. False
Economics