Which of the Following Is True with Respect to Specialization

question 174

Multiple Choice

Which of the following is true with respect to specialization?

• A) Adam Smith in The Wealth of Nations referred to specialization and division of labor.
• B) With a given set of resources, specialization results in higher output.
• C) Individuals and nations specialize in their areas of comparative advantage in order to reap the gains of specialization.
• D) All of the above are correct.

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