Division of Labor

question 376

Multiple Choice

Division of labor

• A) increases the amount of capital in the economy.
• B) leads to an increase in the amount of output in the economy.
• C) makes economic goods possible.
• D) is not possible for service goods.

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Definitions:

Informal Setting

An environment or situation that lacks formal structure or rules, often characterized by casual and personal interactions.

Section 8(c)

Part of the National Labor Relations Act allowing for the expression of views, argument, or opinion by employers, without threat of reprisal or force.

NLRA

The National Labor Relations Act of 1935, a foundational statute in United States labor law which protects the rights of employees to organize, to form, join, or assist labor organizations, to bargain collectively, and to engage in other protected concerted activities.

Pink Slip

A notice of dismissal from employment, often provided in a literal or symbolic "pink slip" of paper.