A Greater Specialization of Labour Leads to Which of the Following

question 12

Multiple Choice

A greater specialization of labour leads to which of the following major results?

• A)The overall output of the economy declines.
• B)There is an increased need for government to intervene in the marketplace.
• C)The circular flow of income contracts.
• D)There is a greater need for trade.
• E)Each worker must become more self-sufficient.

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Definitions:

Operating Decisions

Decisions that relate to the day-to-day operations of a business, affecting its operational efficiency and cost structure.

AASB 128

A standard issued by the Australian Accounting Standards Board outlining the accounting for investments in associates and setting the requirements for the application of the equity method.

Note Disclosure

Information provided in the financial statements that gives additional context and detail to the figures presented in the main statements.

Rationale

The underlying reason or logic behind a decision, practice, or theory.