Specialization-the division of labor-enhances productivity and efficiency by
A) allowing workers to take advantage of existing differences in their abilities and skills.
B) avoiding the time loss involved in shifting from one production task to another.
C) allowing workers to develop skills by working on one, or a limited number, of tasks.
D) all of the means identified in the other answers.
Correct Answer:
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Q1: A fundamental difference between the command system
Q2: The main mechanism that regulates the market
Q4: The division of labor means that
A) labor
Q9: Command systems are also known as
A) market
Q12: Copyrights and trademarks are examples of
A) capital
Q16: Freedom of enterprise
A) is a characteristic that
Q17: Economic systems differ according to which two
Q30: Specialization in production is important primarily because
Q62: Broadly defined, competition involves
A)private property and freedom
Q65:
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