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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why would division of labor without trade not work?

To determine

The reason absence of trade will lead to the disability of the division of labor.

Explanation

The reason behind it is that trade of goods and services promote specialization of labor in a particular task. Without trade, one labor has to perform all the activities involved in the production of the goods and services...

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