The Degree of a Factor's Specificity Is Inversely Related to

question 23

Multiple Choice

The degree of a factor's specificity is inversely related to

• A) the mobility of the factor, with more mobile factors having less specificity.
• B) the amount of time required to redeploy the factor to a different industry.
• C) the cost of the factor as a proportion of the long-run total cost of production.
• D) technology differences between two countries, with a less advanced technology resulting in less factor specificity.
• E) factor quality, with lower quality factors having a lower level of specificity.

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Definitions:

Differentiate Labour

The process of distinguishing or creating differences between types of labor based on skills, tasks, or responsibilities.

Divide Labour

The allocation of different parts of a work process or task to different individuals in order to improve efficiency and productivity.

Intellectual Limitations

Restrictions in an individual's cognitive functioning and abilities, which may affect learning, problem-solving, and daily adaptive behaviors.

Physical Limitations

Constraints related to the physical capabilities of individuals, potentially affecting their work or daily activities.