Specialization of Labour Led to Greater Efficiency in the Allocation

question 64

Multiple Choice

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

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

---

Definitions:

Ch-Squared Distribution

A statistical distribution describing the sum of the squares of variables that follow a standard normal distribution; often used in hypothesis testing.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or test without violating any constraints.

Confidence Interval

An estimated range of values calculated from a sample that is likely to cover the true population parameter with a certain level of confidence.

Population Variance

A measure of the dispersion or spread of a set of data points in a population, quantifying how much the members of a population differ from the population mean.