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:

Basic Types

Fundamental categories or classes into which subjects, objects, or concepts are divided.

Special

Distinguished by a unique or specific quality, purpose, or condition; often implies an exceptional or extraordinary aspect.

Allocated

Pertains to the process of distributing resources or duties for a specific purpose or to particular persons or entities.

Power of Attorney

A legal document that grants one person the authority to act on behalf of another person in legal or financial matters.