Specialization and Trade

What is one benefit of being a specialized worker?

• Working alone

• Becoming the best in their field

• Avoiding other professionals

• Changing careers frequently

How do specialized workers contribute to society over time?

• By isolating themselves

• By forming groups that build civilizations

• By avoiding cultural distinctions

• By working in unrelated fields

What is the main purpose of forming social classes?

• To create conflict

• To organize society based on jobs or trade

• To eliminate jobs

• To make everyone equal

What was the oldest type of transaction?

• Bartering

• Banking

• Trading with coins

• Online shopping

What items were commonly bartered?

• Electronics

• Foods, spices, salt, textiles, wood, crafts, and furs

• Cars and machinery

• Books and paintings

In the bartering table, what happens if both parties have something the other wants?

• No trade occurs

• Haggle to determine price

• One party dictates the price

• Trade is impossible

In the bartering table, what happens if one party has nothing the other wants?

• No trade occurs

• Haggle to determine price

• The party with nothing agrees to anything

• Trade is impossible

What was one difficulty of bartering mentioned in the text?

• Finding a place to trade.

• Finding someone who wants what you have.

• Finding the right currency.

• Finding a way to store goods.

What is one benefit of using money over bartering?

• It makes trade more cumbersome.

• It allows for standardized value measurement.

• It complicates transactions.

• It requires more effort.

What does the text suggest about the efficiency of trade with money?

• It is less efficient.

• It is more efficient.

• It is the same as bartering.

• It is not mentioned.