The Division of Labor Enables

question 73

Multiple Choice

The division of labor enables

• A)the augmentation of scarcity.
• B)the elimination of scarcity.
• C)opportunity costs.
• D)economic interaction.
• E)specialization.

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Definitions:

Client-Visits

Refers to the occasions on which a service provider or salesperson visits clients at their location to build relationships, offer support, or close sales.

Planning Budget

A budget designed for a particular level of activity, often used for planning and forecasting purposes.

Direct Labor

Factory labor costs that can be easily traced to individual units of product. Also called touch labor.

Units

A measure of quantity in accounting, production, or inventory management, often used to quantify the amount of output or sales.