0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
International trade and specialization most often led to what?
an increase in a nation's productivity
Why does Division of labor increases productivity?
specialization
Why do many producers specialize?
because specialization increases productivity.
How does specialization affect the economy?
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
What are benefit of managerial specialization?
Greater efficiency; increased productivity; lower unit costs
International trade and specialization most often led to what?
an increase in a nation's productivity
How does specialization by workers benefit the firm's employing them?
Workers who specialize become more efficient and thereby increase productivity.
Why does Division of labor increases productivity?
specialization
Why do many producers specialize?
because specialization increases productivity.
The concentration of the productive efforts of individuals and firms into a limited number of activities is called?
Specialization. It involves focusing on a specific skill or task to increase efficiency and productivity. By specializing, individuals and firms can optimize their resources and benefit from comparative advantage.
How does specialization affect the economy?
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
What role did the division of labor play in helping to increase production during the indutrial revolution?
Division of labor, helped increase productivity and gave birth to the factory system, which entailed increased division of labor and specialization of function.
What are benefit of managerial specialization?
Greater efficiency; increased productivity; lower unit costs
How can division of labor an specialization increase productivity?
Labor specialization is what economists called division of labor. This is the practice of breaking up a big job, like building an automobile, into smaller jobs. Once the details of each small task are worked out, the tasks are assigned to individual workers. This way, instead of have to learn how to build an entire car, each worker only has to learn his or her task, which increases productivity.
What is productivity deal?
A productivity deal is an agreement between an employer and employee. In this agreement, the employer commits to increase the pay rate with increase in productivity.
What is an increase in productivity?
An increase in productivity is when a person does something at a faster pace, and they get more done the faster they go.
How does specialization increase total output in economics?
I'm a freshman at Utah State diving into macroeconomics. One of the key points from my text states: "Knowledge increases productivity, do specialization increases total output." Can someone help me understand this? What is the total output, our goods, our economy? Or can someone give me am example to relate it to?
