Specialization of Labour Led to Greater Efficiency in the Allocation

question 33

Multiple Choice

Specialization of labour led to greater efficiency in the allocation of resources because of

• A)the opportunity cost of labour increased.
• B)the principle of comparative advantage.
• C)an increase in total work effort.
• D)greater reliance on self- sufficiency.
• E)the use of barter.

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Definitions:

Disclosure

The process of providing vital information to shareholders and the public, often related to financial performance and operations.

Segment Information

Financial data broken down into parts of a company, such as departments or geographical locations, to provide insight into each segment's performance.

Assets and Liabilities

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Intragroup Merchandising Transactions

Transactions for the sale and purchase of goods and services that occur between entities within the same group of companies.