Asked by
Noble Reeves
on Dec 11, 2024
Verified
Specialization in production is beneficial because
A) it allows everyone to have a job that they like.
B) it permits people to expand production and achieve rates of output that would otherwise be unattainable.
C) it allows everyone to be self-sufficient.
D) it eliminates the need for the division of labor.
Production
The process of creating goods and services through the combination of labor, capital, and resources.
Division of Labor
The allocation of different tasks to different people or groups in an effort to improve efficiency.
- Comprehend the economic justification for specialization and the division of labor.
- Assess the ramifications of trading on economic performance and progression.
Verified Answer
EG
Learning Objectives
- Comprehend the economic justification for specialization and the division of labor.
- Assess the ramifications of trading on economic performance and progression.
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