ECONOMICS
BARRIERS TO TRADE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Factories CANNOT produce goods quickly because their workers are constantly being moved asked to learn new positions.
|
|
|
Workers do NOT become experts in their jobs because they are not well trained.
|
|
|
A factory can produce more goods in less time for less money because their workers know very well how to do a specific job.
|
|
|
Businesses will be quicker in selling their products in spite of the fact that their workers are disorganized.
|
Detailed explanation-1: -Specialization Leads to Economies of Scale The more they focus on one task, the more efficient they become at this task, which means that less time and less money is involved in producing a good. Or put another way, the same time and the same money allows for the production of more goods.
Detailed explanation-2: -Question: Which of the following statements is true about specialization and trade? A country should specialize in and export the good for which it has absolute advantage. A country should specialize in and export the good for which they have comparative advantage.
Detailed explanation-3: -The benefits of specialization include: a larger quantity of goods and services that can be produced, improved productivity, production beyond a nation’s production possibility curve, and resources that can be used more efficiently. Specialization can also lead to comparative advantage.
Detailed explanation-4: -Better Value Proposition. Smaller Learning Curve. Higher Perception of Authority. Higher Conversions. Better Networking. 20-Dec-2016