Which of the Following Is TRUE with Respect to Specialization

question 289

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.

---

Definitions:

Moral Decisions

Choices relating to principles of right and wrong behavior, often involving a consideration of ethics and values.

Social Conventions

Established norms, behaviors, and rules that govern interactions within a society.

Collectivist Cultures

Societies that prioritize the group over the individual, stressing the importance of the community and collective goals over personal achievement.

Advanced Form

A higher or more complicated version or stage of something.