Solved

What Accounts for Specialization

Question 45

Multiple Choice

What accounts for specialization?


A) People specialize in the activity in which their opportunity costs are at a maximum.
B) People specialize in the activity in which their opportunity costs are lowest.
C) People do not specialize in any activity.
D) People specialize in the activity that pays the highest wage.
E) People specialize in the activity that they enjoy the most, no matter what the salary is.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q40: Which of the following is a result

Q41: Figure 1.2 Figure 1.2 </p></div><svg width=

Q42: Labor resources include:
A)skilled workers but not unskilled

Q43: Which of the following is true of

Q44: Stocks and bonds are examples of:
A)natural resources.
B)financial

Q46: Figure 1.2 Figure 1.2 </p></div><svg width=

Q47: Oil found underground in Texas is an

Q48: A person has a comparative advantage in

Q49: Opportunity cost:
A)applies only to consumption decisions.
B)applies only

Q50: An economy's resources:
A)are limited in quantity.
B)are always

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents