Division of labor allows people to do tasks for which they have greater natural ability.
A medium of exchange must be A) approved by the government B) socially acceptable in exchange for goods and services C) easy to reproduce D) used to eliminate specialization and the division of labor E) used when a system of barter exists
Which of the following provide the best evidence of specialization? A) a firm that produces a line of related products,such as eight kinds of breakfast cereal B) an architect who is willing to practice in only one geographic area C) a physician that practices in a specialty area such as cardiology or orthopedic surgery D) a family that eats at Wendy's every Thursday night E) a retailer that sells goods but provides no services
The division of labor A) allows more people to be employed B) allows tasks to be performed more efficiently C) makes people happier on the job D) means that less management is required E) means that less equipment will be used