Which of the Following Is True

question 12

Multiple Choice

Which of the following is true?

• A)​People specialize by concentrating their energies on the activity to which they are best suited, because they incur lower opportunity costs as a result.
• B)​One advantage of specialization is that workers acquire greater skill from repetition.
• C)​If a person, a region, or a country can produce a good or service at a lower opportunity cost than others, we say that they have a comparative advantage in the production of that good or service.
• D)​All of the above are true.

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Definitions:

Resource Allocation

The process of distributing available resources among various projects, processes, or units within an organization.

Levels of Activity

Refers to the intensity and volume of operations or actions within a given system or organizational area.

Predicting

The act of making educated guesses or forecasts about future events based on current or past information.