The making and selling of a pencil for ten cents would likely NOT be possible, but for

Question

Quizplus · Accepted Answer

The division of labor would allow for the specialization of tasks in the production process, which would increase efficiency and lower costs, making it possible to produce and sell a pencil for ten cents. However, relative advantage, the production possibilities curve, and absolute advantage do not necessarily address the issue of cost and affordability of the final product.

The Making and Selling of a Pencil for Ten Cents