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

Question

Quizplus · Accepted Answer

Specialization of labour allowed for individuals or countries to focus on producing the goods and services in which they had a comparative advantage, leading to greater efficiency in the allocation of resources. This allowed for increased productivity, lower costs, and higher overall output. Options A, B, D, and E do not accurately reflect the benefits of specialization of labour.

Specialization of Labour Led to Greater Efficiency in the Allocation