Specialization Contributes to Efficiency in All of the Following Ways

question 17

Multiple Choice

Specialization contributes to efficiency in all of the following ways except:

• A) Facilitates the training of workers
• B) Increases the skill or ability to perform functions
• C) Requires less supervision of employees
• D) Eliminates time spent between tasks
• E) None of the above

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Definitions:

Shortage

A situation where the demand for a product exceeds the available supply, often leading to higher prices.

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.

Shortage

A situation in which the demand for a product or service exceeds the available supply, often leading to higher prices or unmet demand in the market.

Surplus

A situation where the quantity supplied of a good exceeds the quantity demanded at the current price, often leading to a decrease in prices.