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Money encourages specialization by exchange costs.

How does money facilitate specialization by reducing exchange costs?

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7 Answers

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Juliet Marquardt

Oct 11, 2024

Money encourages specialization by decreasing the opportunity costs of exchange.Money, as a unit of account, can be used to express the market value of different goods and services. Money, as a store of value, retains its buying power and liquidity (can easily be traded for goods and services at any time)
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Anonymous

Nov 01, 2024

B.Exchange costs I just took the test and the teacher told me it was b
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Anonymous

Feb 07, 2025

Money encourages specialization by decreasing the exchange costs. Money is used in a transaction to allow for easier trade. One person normally uses money to purchase the good another person is selling. By using money as a price point to pay for a specific item, it makes the item have value and be bought by, by a consumer.
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Ms. Lorine O'Hara

Jan 21, 2025

Obviously, workers who specialize become more efficient and thereby increase productivity, because they became better in their domain. The answer to your question is C. I hope that this is the answer that you were looking for and it has helped you.Explanation: hope i helped you
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Anonymous

Jan 11, 2025

Money can be used to express the different market value for goods and services it decreases the opportunity to exchange like unit of an account
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Anonymous

Nov 09, 2024

Obviously, workers who specialize become more efficient and thereby increase productivity, because they became better in their domain. The answer to your question is C. I hope that this is the answer that you were looking for and it has helped you.
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