_____ Is the Process by Which a Division of Labor

question 66

Multiple Choice

_____ is the process by which a division of labor occurs as different workers specialize in different tasks over time.

• A)Job specialization
• B)Division of labor
• C)Unity of direction
• D)Job rotation
• E)Centralization

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Definitions:

Inputs

Inputs are the resources used in the production process to create goods or services, including labor, raw materials, machinery, and capital.

Production

The process of creating goods or services by combining labor, machinery, and materials resources.

Returns to Scale

The rate at which output increases as inputs are increased proportionally.

Long-Run Average Total Cost

The average cost per unit of output when all input factors are variable, and economies of scale are fully exploited.