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Specialistion and Division of Labour Flashcards | StudBud

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Select the best statement about Joe

In all societies, the factors of production are

Specialistion and Division of Labour

4 terms·StudBud Administration·22 plays

Unit 1

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Questions 4

Answers

1
In all societies, the factors of production are
available in abundance
in short supply
2
Select the best statement about Joe
Joe and team of skilled carpenters make (manufacture) furniture
Joe does everything, takes orders, makes furniture and even delivers it
Joe produces a lot of tables and chairs every week
Joe is in charge of the workers who produce a lot of furniture every week
3
Jack Japara Sharma is using the principles of
factors of production
opportunity cost
scarcity
specialisation and division of labour
4
Factors of production are
Land, Labour, Capital, Enterprise
Land, Labour, Cost, Entrance
Land, Liberty, Cash, Entrepreneur
Land, Labour, Capsul, Enterprise