Question
What is specialization in an economy?(1 point)
Responses
When countries and people rely on each other for goods and service
When countries and people rely on each other for goods and service
When businesses lower prices to compete for customers
When businesses lower prices to compete for customers
When a person or country focuses on making one product or providing one service very well
When a person or country focuses on making one product or providing one service very well
When governments set limits on imported goods
When governments set limits on imported goods
Responses
When countries and people rely on each other for goods and service
When countries and people rely on each other for goods and service
When businesses lower prices to compete for customers
When businesses lower prices to compete for customers
When a person or country focuses on making one product or providing one service very well
When a person or country focuses on making one product or providing one service very well
When governments set limits on imported goods
When governments set limits on imported goods
Answers
GPT-4o mini
Specialization in an economy refers to **when a person or country focuses on making one product or providing one service very well.**