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Why the specialisation of labor is more efficient than universal self sufficiency?
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∙ 11y ago
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Wiki User
∙ 11y ago
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What is typically the most efficient ratio of labor to capital?
equal amounts of labor and capital
What is the economic process of specialization?
It makes it more efficient. It makes it more efficient.
What is an efficient way for nations to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
Explain the contributions of enterprise and division of labor to an economy?
Enterprise is the risk-taking, organising factor of production; D of L is the specialisation of economic activity by product or process. Enterprise organises the other factors to promote output, efficiency and change while D of L reduces cost, raises productivity and living standards.
Why is it advantageous for the cells of an animal to exhibit divisions of labor?
It allows for a greater amount of specialisation of cell types. Specialisation is almost always an advantage.
What is it called when different people perform different jobs?
division of labour or specialisation
What is the principal advantage of divinsion of labor?
It is efficient.
What is the principal advantage of division of labor?
It is efficient!
What is typically the most efficient ratio of labor to capital?
equal amounts of labor and capital
How much does labor cost changing universal joint on a Chevy silverado?
$40.00 to $50.00 labor
What is the economic process of specialization?
It makes it more efficient. It makes it more efficient.
Why did slave owners not want to give up slaves?
Because to them, slaves were cheap, efficient labor.
What is a efficient way for a nation to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What is an efficient way for nations to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
What is the aim of invented computer?
Same as with any tool:reduce human labormake human labor more efficient and faster
