Which of the following are examples of specialization? Check all that apply. - Akshay understands people, and Eleanor is an expert on sports; therefore, Akshay is a therapist, and Eleanor is a sports commentator. - Felix and Megan each spend half the day washing cars and half the day mowing lawns. In between washing cars and mowing lawns, they each must spend an hour putting away the car washing equipment and changing clothes before mowing lawns. - Victor is a musician. He hires a domestic worker to clean his apartment twice a week so that he can concentrate on composing music. Which of the following are necessary conditions for specialization to occur? Check all that apply. - A system of exchange must be in place.
- Individuals focus only on the tasks they prefer. - Everyone must be equally productive at the same task. Manuel is one of the best tax accountants in all of Detroit and is married to a baker. Manuel does the taxes of many celebrities, professional athletes, and politicians. True or False: The principles of comparative advantage and specialization imply that Manuel should do his partner's taxes because anyone else Manuel would hire would likely be less skilled at tax accounting.