One of the Major Results of the Greater Specialization of Labour

question 66

Multiple Choice

One of the major results of the greater specialization of labour is that

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

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Definitions:

Operational Ambiguity

The uncertainty or lack of clarity in the operational aspects of a business, which can arise from complex or unclear procedures, objectives, or roles.

Mutually Exclusive Projects

Situations where the acceptance of one project results in the rejection of another project due to constraints such as budget or resources.

Economic Resource

Assets or inputs that can be used in the production or offering of goods and services that have economic value.