What is specialization, What is specialization? How does

What is specialization

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Reference no: EM133310909

Assignment:

Answer the following questions:

1. What is specialization?

2. How does specialization impact efficiency?

3. In sports, what is one positive of specialization?

4. In sports, what is one negative of specialization?

5. Opinion: based on your own experiences, explain the pros and cons of specialization in 2-3 sentences. Use an example from your life to illustrate and support your answer.

6. What is a cost-benefit analysis?

7. Why are CBAs useful when trying to plan something as massive as the Olympic Games?

8. Why are the Olympics consistently so expensive?

9. What should be the benefits to a community that hosts the Olympics, and why don't these benefits always last?

10. Opinion: do you think there is a way to make the Olympics more beneficial in the long-term for a host community? Explain:

11. Why would people need to create a currency system like money?

12. Is "value" set/constant? What impact or changes value?

13. We use money to pay not just for things, but for labor. Do we judge fairly what someone's labor is worth?

14. When have you experiences an economic exchange with money that felt fair? What about an unfair exchange? Why did these exchanges feel that way?

Reference no: EM133310909

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