Specialization of Labour Led to Greater Efficiency in the Allocation

question 40

Multiple Choice

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

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

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Definitions:

Swords

Edged weapons that are longer than knives, with a long metal blade and a hilt, used historically in warfare or dueling.

Total Cost

The sum of fixed costs and variable costs incurred in the production of goods or services.

Units of Output

The quantity of goods or services produced by a firm or industry.

Total Costs

The sum of all the costs incurred in the production of goods or services, including both fixed and variable costs.