The Most Important Source of Gain from the Division of Labor

question 79

Multiple Choice

The most important source of gain from the division of labor is

• A) the repeal of the law of comparative advantage.
• B) the reduction in work effort because incentives are adversely affected.
• C) the increase in the number of jobs since more labor is used to produce goods.
• D) the benefits that result from specialization, adoption of mass production techniques, and exchange.

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Definitions:

Group Decision Making

A process in which multiple individuals come together to analyze problems or situations and make decisions as a collective.

Pressure to Conform

The social force that encourages individuals to adjust their behaviors, beliefs, or actions to align with group norms.

Decision-Making Process

A systematic approach used in determining the best choice from among various alternatives.

Course of Action

A chosen path or strategy intended to accomplish a specific goal.