Which of the Following Is Not a Reason Why Specialization

question 65

Multiple Choice

Which of the following is not a reason why specialization and trade are beneficial to society?

• A) The total output of economic goods may be increased even without any increase in resources.
• B) Scarce resources are utilized more efficiently by exploiting differences among them.
• C) Specialization fosters learning by doing, thus lowering the unit-costs of products.
• D) Firms and workers become less dependent on others for producing goods and services.

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Definitions:

Donee Beneficiary

A third party who benefits from a contract made between two other parties, particularly when the contract's purpose is to give a gift to the third party.

Cause of Action

A collection of sufficient facts that validates the entitlement to initiate legal action for the purpose of acquiring money, property, or enforcing a right against someone else.

Breaching Party

the party in a contract who fails to fulfill their contractual obligations, thereby violating the agreement.

Promisee

The individual or entity to which a promise or agreement is made.