Diminishing Returns to Specialization Occurs When

question 84

Multiple Choice

Diminishing returns to specialization occurs when:

• A) resources can move freely from the production of one good to another within a country.
• B) more units of resources are required to produce each additional unit.
• C) the cost of producing goods reduces substantially with increase in number of goods produced.
• D) the quality of resources comes down as a result of producing more goods.
• E) the pain caused by the movement toward a free trade regime is a long-term phenomenon.

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Definitions:

Nonverbal Cues

Forms of communication without the use of words, such as gestures, facial expressions, body language, and other visual cues.

Founding Team

The group of individuals who start a company, contributing to its initial strategy, vision, and product development.

Technical Skills

Abilities and knowledge in a specific field, particularly related to science, engineering, technology, or mechanics, often requiring specialized training.

Financial Stability

A state where the financial system, institutions, markets and infrastructure operate effectively and efficiently, withstanding shocks and avoiding crises.