Author Question: A greater specialization of labour leads to which of the following major results? (Read 59 times)

ncasson210 · **on:** Oct 12, 2022

Question 1

Specialization of labour led to greater efficiency in the allocation of resources because of
◦ an increase in total work effort.
◦ the principle of comparative advantage.
◦ the use of barter.
◦ the opportunity cost of labour increased.
◦ greater reliance on self-sufficiency.

Question 2

A greater specialization of labour leads to which of the following major results?
◦ The circular flow of income contracts.
◦ Each worker must become more self-sufficient.
◦ There is a greater need for trade.
◦ The overall output of the economy declines.
◦ There is an increased need for government to intervene in the marketplace.

dianagarcia · **Reply #1 on:** Oct 12, 2022

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