Who Was the Economist Who First Analyzed the Advantages of Specialization

question 71

Multiple Choice

Who was the economist who first analyzed the advantages of specialization and the division of labor?

• A)David Ricardo
• B)Arthur C. Pigou
• C)Ronald Coase
• D)Adam Smith

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Definitions:

Credential Inflation

The devaluation of educational qualifications over time, requiring higher levels of education to qualify for certain jobs.

Cultural Capital

Non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, and appearance.

Professionalization

The process by which an occupation transforms into a profession, typically involving the development of formal training programs, ethical standards, and officially recognized certification.

Protestantism

A branch of Christianity originating from the Reformation in the 16th century, emphasizing salvation through faith alone, the priesthood of all believers, and the authority of the Bible.