All Subjects
Light
collapse
Practice Quizzes
AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.4
Specialization in the context of trade means?
Exchanging goods and services between countries.
Allocating resources efficiently.
Producing goods and services at a lower opportunity cost.
Stopping production of one good to maximize production of another good.
Related content
Practice quizzes
Practice this subject
Practice this unit
Practice this topic
Study guides (1)
AP Microeconomics - 1.4 Comparative Advantage and Trade
Key terms
Specialization
About Us
About Fiveable
Blog
Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
Report an Issue
Stay Connected
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
About Us
About Fiveable
Blog
Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
Report an Issue
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
Back
Practice Quiz
Guides
Glossary
Guides
Glossary
Next
