Specialization in Production Is Important Primarily Because It

question 259

Multiple Choice

Specialization in production is important primarily because it

• A) results in greater total output.
• B) allows society to avoid the coincidence-of-wants problem.
• C) allows society to trade by barter.
• D) allows society to have fewer capital goods.

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Definitions:

Coercive Power

A form of power that is based on the ability to deliver punishments or impose negative consequences on other people.

Legitimate Power

A form of authority derived from an individual's position or role within an organization, granting them the ability to influence others.

Referent Power

A form of influence that an individual possesses due to others' admiration, respect, or desire to identify with them.

Authority

The power or right assigned to an individual or organization to make decisions, give orders, and enforce obedience.