Division of Labor

question 376

Multiple Choice

Division of labor

• A) increases the amount of capital in the economy.
• B) leads to an increase in the amount of output in the economy.
• C) makes economic goods possible.
• D) is not possible for service goods.

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Definitions:

Sherman Act

A landmark federal statute in the field of United States antitrust law passed by Congress in 1890 to preserve free and unfettered competition as the rule of trade.

American Tobacco

A historical company involved in the manufacturing and selling of tobacco products, once a major player in the tobacco industry.

United States Steel

A major American integrated steel producer with major production operations in the United States and Central Europe.