The definitions of specialization, voluntary exchange, division of labor, and non-fraudulent exchange, productivity, opportunity cost

a making or becoming specialized; structural adaptation of a body part to a particular function or of an organism for life in a particular environment; a body part or an organism adapted by specialization

Voluntary exchange is the act of buyers and sellers engaging in market transactions, which according to the proponents of the term happens freely and willingly.

Division of labour, the separation of a work process into a number of tasks, with each task performed by a separate person or group of persons. It is most often applied to systems of mass production and is one of the basic organizing principles of the assembly line.

voluntary exchange. the act of buyers and sellers freely and willingly engaging in non-fraudulent market transactions. Both parties should benefit from the exchange. non-fraudulent exchange. without fraud/without deceiving; honest, voluntary exchange.

the state or quality of being productive.

Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. The idea of opportunity costs is a major concept in economics. Because by definition they are unseen, opportunity costs can be easily overlooked if one is not careful.

9) a & b

10) true.

11) false.

12) false.

13) true.

14) false.

15) true.

16) true.

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