Asked by Jessica Robertson on Jul 11, 2024
Verified
Which best describes the American economy?
A) It is a highly specialized economy.
B) There is a small amount of specialization.
C) There is a great deal of self-sufficiency.
D) Half of the economy is highly specialized and the other half is self-sufficient.
Highly Specialized Economy
An economy focusing on the development and production of specific goods or services, utilizing advanced technology or unique skills for efficiency.
Self-Sufficiency
The ability to fulfill all of one's needs without external assistance.
- Describe the degree of specialization and self-sufficiency in the American economy.
Verified Answer
YC
Yvonne Ch'ngJul 18, 2024
Final Answer :
A
Explanation :
The American economy is highly specialized, with different regions and sectors focusing on specific industries and products. This is evident in the concentration of technology companies in Silicon Valley, the dominance of finance in New York City, and the production of agriculture in the Midwest.
Learning Objectives
- Describe the degree of specialization and self-sufficiency in the American economy.
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