Specialization-The Division of Labor-Enhances Productivity and Efficiency by

question 147

Multiple Choice

Specialization-the division of labor-enhances productivity and efficiency by

• A) allowing workers to take advantage of existing differences in their abilities and skills.
• B) avoiding the time loss involved in shifting from one production task to another.
• C) allowing workers to develop skills by working on one, or a limited number, of tasks.
• D) all of the means identified in the other answers.

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Definitions:

Marketing Concept

A business philosophy suggesting that success is achieved by focusing on the needs and wants of target markets and delivering value better than competitors.

Business Adopting

The process by which a company begins to implement new strategies, technologies, or practices to improve its operations and adapt to market changes.

Debt Security

A financial instrument representing a loan made by an investor to a borrower, typically involving regular interest payments and the return of principal at maturity.

Borrower's Assurance

A guarantee provided by a borrower to a lender that the borrower will meet the obligations of the loan agreement.