Adam Smith's Example of the Pin Factory Demonstrates That Economies

question 40

True/False

Adam Smith's example of the pin factory demonstrates that economies of scale result from specialization.

---

Definitions:

Target Population

The entire group of individuals or instances about which researchers aim to make conclusions in a study.

Participant Pool

A group of individuals from which research participants are recruited, representing a larger population of interest.

Research Variables

Elements, features, or factors that can change and affect the outcomes of a study, measured to understand relationships or effects.

Independent Variable

The variable in an experiment that is manipulated to observe its effect on the dependent variable.