Exchange is the necessary consequence of specialization
Explain: “Exchange is the necessary consequence of specialization.”
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When resources are specialized, they are no longer self-sufficient. Exchange is essential to attain the products as well as services which one requisite. Moreover, result in specialization will be in excess of precise products which is being produced. The excess of one product will be over the excess manufacture of other products.
Explain the statements: The market system provides such a variety of desired goods and services precisely.
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