Questions Refer to the Following Passage

question 89

Multiple Choice

Questions refer to the following passage.
"To take an example, therefore, from a very trifling manufacture; but one in which the division of labour has been very often taken notice of, the trade of the pin-maker; a workman not educated to this business . . . nor acquainted with the use of the machinery employed in it . . . could scarce, perhaps, with his utmost industry, make one pin in a day, and certainly could not make twenty.
"But in the way in which this business is now carried on . . . One man draws out the wire, another straights it, a third cuts it, a fourth points it, a fifth grinds it at the top for receiving the head; to make the head requires two or three distinct operations . . . and the important business of making a pin is, in this manner, divided into about eighteen distinct operations.
"I have seen a small manufactory of this kind where ten men only were employed, and where some of them consequently performed two or three distinct operations [and] could, when they exerted themselves . . . make among them upwards of forty-eight thousand pins in a day. Each person, therefore, making a tenth part of forty-eight thousand pins, might be considered as making four thousand eight hundred pins in a day. But if they had all [worked separately], they certainly could not each of them have made twenty, perhaps not one pin in a day."
The Division of Labour (1776) , Adam Smith
-The division of labor referred to in the passage was a necessary component of the rise of which of the following?

• A) Mercantilism
• B) Syndicalism
• C) The factory system
• D) The cottage-based system

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Definitions:

Statistical Significance

A measure of the likelihood that a difference or relationship observed in a study could have occurred by random chance, often denoted by a p-value.

Effect Size

A quantitative measure of the magnitude of the experimental effect from a study, indicating the size of the difference between groups.

T-statistic

A statistic calculated from a sample of data used to conduct a t-test, which assesses whether there is a significant difference between the means of two datasets.

Type II Error

An error that occurs when a statistical test fails to reject a false null hypothesis, indicating a missed opportunity to detect an actual effect or difference.