Statement I: Adam Smith Argued That Specialization Enabled Workers to Get

question 45

Multiple Choice

Statement I: Adam Smith argued that specialization enabled workers to get good at their jobs and that mass production would enable specialized and expensive equipment to be used.
Statement II: Parkinson's Law states that work expands so as to fill the time available for its completion.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

---

Definitions:

Total Profit

The entire amount of financial gain made by a business after accounting for all expenses, taxes, and costs.

CEO Compensation

The total package of benefits and earnings awarded to a company's Chief Executive Officer, including salary, bonuses, stock options, and other perks.

Employee Compensation

This encompasses all forms of payment or rewards received by employees for their labor, including wages, salaries, benefits, and bonuses.

CEO Compensation

The total remuneration package provided to a Chief Executive Officer, including salary, bonuses, shares, and other benefits.