Money encourages specialization by decreasing the .

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07-04-2022
Business

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Money encourages specialization by decreasing the .

Sagot :

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mahima6824soni mahima6824soni · Answer 1 · 2022-04-14T02:25:29-04:00

Money encourages specialization by decreasing the exchange cost.

The correct option is B.

What is the exchange cost?

Exchange cost is the price by which the product is exchanged between the customer and seller.

Money eliminates the double coincidence of desires, allowing for greater specialization and productivity.

As a result, money enables us to make better use of our limited resources by allowing us to generate more in the same number of resources.

This aids in the reduction of scarcity.

Thus, B is the correct option.

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What is the exchange cost?

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