Exchange is necessary in an economy if: a. output is to be ...

[mpobi80]

Exchange is necessary in an economy if:
 a. output is to be produced.
 b. output is to be consumed.
 c. individuals are self-sufficient.
  d. families are self-sufficient.
 e. labor is specialized.

Question 2

Relative prices describe the terms at which individual goods are exchanged for one another.
 a. True
  b. False
  Indicate whether the statement is true or false

[AaaA]

Answer to Question 1

e

Answer to Question 2

True

[mpobi80]

Excellent

[sailorcrescent]

Thanks for the timely response, appreciate it