Specialization Within Firms Has All of the Following Advantages Except

question 80

Multiple Choice

Specialization within firms has all of the following advantages except:

• A)decreased setup costs.
• B)increased knowledge of consumer preferences.
• C)decreased monitoring costs.
• D)increased productivity through learning by doing.

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Definitions:

Social Institutions

Complex systems of norms and structures that fulfill societal needs, such as family, education, and government.

Justice View

Considers ethical behaviour as that which treats people impartially and fairly according to guiding rules and standards.

Ethical Behaviour

Conduct that is consistent with principles of moral and ethical standards, such as honesty, integrity, fairness, and respect.

Impartiality

Refers to the principle of fairness and neutrality in decision-making and treatment of individuals.