Which of the following is a good example of efficient specialization and voluntary exchange?
A)A college professor hires someone to rototill his or her garden to ready it for spring planting.
B)A college professor works on the engine of a car for a neighbor who is a mechanic.
C)A lawyer decides to babysit his or her young child and agrees to do so for others for cash.
D)A physician agrees to help a neighbor work on his or her income tax return in exchange for his or her bookkeeping services.

Question

Quizplus · Accepted Answer

The college professor hiring someone to rototill the garden is an example of efficient specialization and voluntary exchange because the professor is likely more productive in their field of expertise and can pay someone who specializes in gardening tasks, allowing both parties to benefit from the exchange.

Which of the Following Is a Good Example of Efficient