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

Question

Quizplus · Accepted Answer

A greater specialization of labor means that each worker becomes more skilled at a specific task, leading to greater efficiency and productivity. As a result, businesses are able to produce more goods and services, which increases the need for trade both domestically and internationally in order to access more resources and markets.

A Greater Specialization of Labour Leads to Which of the Following