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Coffee or Croissants: A Breakfast Dilemma (Part 2)

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Coffee or Croissants: A Breakfast Dilemma (Part 2)
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  • And specialization leads to: division of labor, encourages trade, productivity, standard of living and economic interdependence.
  • David's Coffee
  • Haha. There is one more thing: specialization
  • David's Coffee
  • I know about specialization. Specialization is when an individual excels or is an expert at a particular skill.
  • That is correct. In this case, my opportunity cost is lower, which gives the comparative advantage.
  • Precisely
  • David's Coffee
  • So you specialize croissants and coffee!
  • And I can rely on you for croissants. This helps both parties involved make more money and build local economics
  • David's Coffee
  • This is how economic interdependence is approached. Depending on what people or groups specialize in, they can rely on each other for trades. In instance, I can rely on you for coffee
  • Thank you. I am glad that I was able to be to provide coffee with a side of information
  • Wow that was very refreshing. Just like this amazing coffee
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