The Most Important Source of Gain from the Division of Labor

question 79

Multiple Choice

The most important source of gain from the division of labor is

• A) the repeal of the law of comparative advantage.
• B) the reduction in work effort because incentives are adversely affected.
• C) the increase in the number of jobs since more labor is used to produce goods.
• D) the benefits that result from specialization, adoption of mass production techniques, and exchange.

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Definitions:

Emergent Norms

Social behavior norms that develop during events where existing cultural norms do not apply or are unclear.

Collective Behavior

Actions and phenomena that emerge suddenly in a social context, distanced from well-established norms or conventions.

Agglomeration

The clustering of businesses, services, or resources in a specific area, often leading to economic benefits.

Conscious Personality

Refers to the aspects of an individual's personality that they are fully aware of, including thoughts, feelings, and behaviors that the individual recognizes as their own.