Specialization Usually Increases the Output of a Country; However Effective

question 47

Multiple Choice

Specialization usually increases the output of a country; however effective specialization requires:

• A)Everyone in the country producing the same thing
• B)That workers have very similar skills
• C)An effective low-cost means to exchange goods and services
• D)A large stock of capital

---

Definitions:

Powerful People

Individuals who hold significant authority, influence, or control in social, political, or organizational contexts.

Above-average Raises

Refers to salary increases that are higher than what is typically awarded within an organization or industry, often given as a reward for exceptional performance.

Strategic Contingency

A theory or approach which suggests that the effectiveness of a decision, strategy, or leadership style is contingent upon the internal and external environment.

Indispensable Function

Refers to a crucial task or role within an organization that is essential for its operation and success.