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Division of Labor & Specialization Flashcards | StudBud

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Division of Labor & Specialization

7 terms·StudBud Administration·195 plays

#economics

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Questions 7

Answers

1
How does specialization impact productivity?
Decreases and then increases
Increases
Decreases
Increases and then decreases
2
Which option is NOT an advantage of specialization?
Takes advantage of differences in ability
Foster learning by doing
Saves time
Lowers skill levles
3
What is it called when workers focus on a particular task?
Production
Monopoly
Monotony
Specialization
4
What are things used to produce more goods than services?
Natural resources
Salary
Human resources
Capital resources
5
What are the 4 factors of production?
Land, Labor, Capital, & Entrepreneur
Land, Labor, Industry, & Entrepreneur
Land, Natural Resources, Capital, & Employees
6
Why do people in the United States enjoy a high standard of living?
Entrepreneurship
Government control of industry
Specialization
Foreign trade
7
Ford Motor Company introduced what process in 1913?
Shift work
Unionization
Assembly line
Mass marketing