C) Results In Greater Total Output. Specialization in production is important primarily because it: A. results in greater total output. Specialization in production is important because it contributes to greater total output in a marketplace. Because of specialization we have an economy of surplus of high quality goods at our finger tips. This preview shows page 5 - 7 out of 67 pages. Specialization in production is important because it contributes to greater total output in a marketplace. The Production City is primarily used to build your military units, but can also be used to to create some World Wonders late in the game. O d. allows society to trade by barter. B) Allows Society To Trade By Barter. Morrow and Jeffries 1989; Torrence 1986), production is studied primarily as a way to understand the mode of exchange. 23. The reason why is something called the division and specialization of labor, a production innovation first put forth by Adam Smith, Figure … Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency. D. allows society to have fewer capital goods. C. allows society to trade by barter. Many authors had written on economics in the centuries before Smith, but he was the first to … D. Texas to trade lettuce directly for Washington apples. He contends that "the conventional factors of production -- land, labor, raw materials, and capital -- become less important as knowledge is substituted for them" (Toffler, p. 238). Specialization is limited by lack of self interest hired labor. First, specialization in a particular small job allows workers to focus on the parts of the production process where they have an advantage. Specialization in production is important primarily because it: -allows society to have fewer capital goods. Human capital is a measure of the economic value of an employee's skill set. D) How will the system accommodate change? Specialization in production is economically beneficial primarily because it: The correct answer is A. allows everyone to have a job that he or she... See full answer below. View desktop site, Answer 8 = option (c) Results in greater total output If someone is specialized in production it'll be helpful to produce more output. For example, if a factory produces only 100 cars per year, each car will be quite expensive to make on average. Get the detailed answer: Specialization in production is important primarily because of it: a. results in greater total output. It is not because we could not learn. In the late 1960s, Charlton (1971, 1981) found a concentration of large spindle whorls at the Aztec city-state capital of Otumba that he interpreted as remains of a maguey-fiber workshop. Florida flora Now, for the first time, specialization of production on a worldwide scale was a central element of economic life in all the countries that participated. b.rents. 4 Innovation lagged in the centrally planned economies because: C. is very slightly correct. The specialization is limited by extent or the market. On the basis of the above information and assuming trade occurs between the three states. allows society to avoid the coincidence-of-wants problem. B. allows society to avoid the coincidence-of-wants problem. Question: 9) 5) Specialization In Production Is Important Primarily Because It A) Allows Society To Have Fewer Capital Goods. Craft specialization is commonly used as one indicator of social complexity, and some argue that craft specialization has important, evolutionary implications because it signifies the growth of economic power in a society (Tatje and Naroll 1970). Why is specialization important? C) allows society to avoid the coincidence-of-wants problem. -allows society to avoid the coincidence-of-wants problem. According to the International Monetary Fund, in 2019, the United States is the world's largest economy, followed by … Course Hero is not sponsored or endorsed by any college or university. 11) 12) Specialization in production is economically beneficial primarily because it: B. permits the production of a larger output with fixed amounts of D) allows society to avoid the coincidence-of-wants problem, 9) According to economist Donald Boudreaux in the "Last Word" section of the chapter, what best explains why the market system is not a random, chaotic mess? Although textiles were important commodities in the Aztec political economy, it is widely held that textile production did not involve organized workshops. allows society to have fewer capital goods. D. allows society to have fewer capital goods. A) Government planning limits the chaos, and the government regulates economic activity to create stability in the market. -results in greater total output. Specialization allows businesses to charge a higher price for the product. Specialization in Production Cubias, Catalan, Cobilla 2. 5 Specialization in production is important primarily because it: A.results in greater total output. D) The roundabout methods of production allocate resources from consumers to producers in an orderly fashion 10) In terms of the circular flow diagram, businesses obtain revenue through the market and make expenditures in the market. C. Texas to exchange lettuce with Michigan and receive autos in return. The more they focus on … I’ve had a few good production cities end up becoming secondary Great Person farms, just because I was able to build so many world wonders in them. Given the above information and assuming trade occurs between the three states we can. Job specialization is particularly necessary for larger organization where the manufacturing sector would require a different category of work in individual production unit to be done by the workers. Because surgery is complicated and has a lot of little details, and if you don’t do it often enough, you tend to forget some of those little details. Specialiazation is a method of production where a business, area or economy focuses on the production of a limited scope of products or services to gain greater degrees of … When a product is specialized, customers are will to pay more in order to have access to the upgraded features. The development of food systems can be traced back to the origins of in-situ agriculture and the production of food surpluses. Specialization in production is important primarily because it: results in greater total output. D) workers, managers, and entrepreneurs could not personally gain by responding to shortages or surpluses or by introducing new and improved products. 25. Third, specialization allows businesses to take advantage of economies of scale, which means that for many goods, as the level of production increases, the average cost of producing each individual unit declines. 22. allows society to trade by barter. These surpluses enabled the development of settled areas and contributed to the development of ancient civilizations, particularly those in the Fertile Crescent. & "O b. results in greater total output (greater production) O C. allows society to have fewer capital goods. Get the detailed answer: Specialization in production is important primarily because of it: a. results in greater total output. B. Washington to exchange apples with Michigan and receive money in return. Hogs are produced in three types of specialized enterprises: Farrow-to-finish operations raise hogs from birth to slaughter weight, about 240-270 pounds. allows society to have fewer capital goods. b.allows society to avoid the coincidence-of-wants problem. Let me take an example, that of Nutella. Specialization in production is important primarily because it: results in greater total output. b. allows society to avoid C) the immediate effect of more investment was less consumption. Privacy 11) Specialization in production is important primarily because it: A) results in greater total output. Specialization in production is important primarily because it: A)results in greater total output B)allows society to avoid the problem of shortages C)allows society to trade by barter D)allows society to have fewer capital goods E)allows society to avoid the problem of surpluses a.wages. Economics is about the production, distribution and consumption of goods. B) There is active cooperation among private property owners and government officials to correct the excesses of a market economy Private property rights encourage mutual accommodation that leads to an arrangement of resources that is productive. Answer 9 = option (c) Private property rights encourage mutual. Explanation:When companies are able to special… c.allows society to trade by barter. It makes production of goods and services more efficient C.It results in more choices and lower prices for consumers D. All of the above See answers (1) Ask for details ; Follow Report The Division of and Specialization of Labor. On the basis of the above information it can be said that: 26. 27. This measure builds on the basic production input of labor measure … People have different skills, talents, and interests, so they will be better at some jobs than at others. B) Who will get the output? Specialization in production is important primarily because it A results in from ECON 1510 at International Islamic University, Chittagong (In later chapters, we will develop this idea by discussing comparative advantage.) The economic concept of specialization helps answer this question, economic actors concentrate their … As a result of trade, the price ratio, or terms of trade, will lie in between the two countries’ autarky price ratios. B) allows society to have fewer capital goods. Specialization in production is extremely important..it is the know-how and the basis for a company to do business. "Because it reduces the need for raw material, labor, time, space, and capital, knowledge becomes the central resource of the advanced economy (Toffler, p. 91). I especially liked the specialization of production systems management because, to me, the business aspect of agriculture is just as important as the science side. Specialization in production is important primarily because it Select one: O a. allows society to avoid the coincidence-of-wants problem. 3 In a market economy a significant change in consumers' desire for product X will: D. do all of these. 1. Specialized City: The Production City. allows society to avoid the coincidence-of-wants problem. Specialization in production is important primarily because it A results in, 24 out of 25 people found this document helpful. Being at war, I made it a secondary production city — primarily because it already had production infrastructure in place. Specialization in production is important primarily because it a. results in Greater total output b. allow Society to have fear capital goods c. allow Society to trade by barter d allow Society to avoid The Coincidence of wants problem © 2003-2021 Chegg Inc. All rights reserved. Why specialization is important: ... Why? A) resource: product B1 product; resource produet, financial D) capital, product 11) An economic system in which money is not used as a medium of exchange is a A) planned economy B) barter economy mixed economy D) market economy 10) ) 11) 12) 12) The incentive problem under communist central planning refers to the idea that A) planners had to direct required inputs to each enterprise. University of Texas, Dallas • BUSINESS 1111, King Fahd University of Petroleum & Minerals, Test Bank for Microeconomics 19th Edition McConnell, Johnson County Community College • ECON 230, King Fahd University of Petroleum & Minerals • ECON 202, Cleveland State University • MICROECONO 978-0-07-3. Specialization-the division of labor-enhances productivity and efficiency by: all of the means identified in the other answers. B. allows society to avoid the coincidence-of-wants problem. It is primarily used to assess the health of a country's economy. C) results in greater total output. When companies are able to specialize, they... See full answer below. Hog Production; Industry Structure; Policy; Trade; Hog Production. Specialization in production is economically beneficial primarily because it: Chapter 02 - The Market System and the Circular Flow. Answer:Specialization in production is important because it contributes to greater total output in a marketplace. Specialization in production is important primarily because it results in from ECON 2302 at Lone Star College System It can only happen if there is longer population 2. Specialization in production is important primarily because it: B. allows society to avoid the coincidence-of-wants problem. ; Feeder pig finishers buy feeder pigs and grow them to slaughter weight. Sure, you can look them up and remind yourself how to do the surgery right. The imbalance in attention is undeserved, not only because pro duction has just as important a role in society as does distribution but also because it may be that production is easier to study well. | Barter. A key decision facing workers, firms and nations is what goods to produce. Specialization in production is economically beneficial primarily because it: permits the production of a larger output with fixed amounts of resources. Rather, we do not have to. B) allows society to trade by barter. Specialization Leads to Economies of Scale As labor is divided amongst workers, workers are able to focus on a few or even one task. C. workers specialize in various production tasks. Specialization–the division of labor–enhances productivity and efficiency by: 24. EDIT: As Quechua points out in a response post, Turfan is more ideally suited to becoming a commerce city (Gold and Desert Hill Mines aren’t particularly good production tiles). A .It increases trade B. Specialization in production is economically beneficial primarily because it: A. allows everyone to have a job that he or she likes. Specialization in production is important primarily because it: A. results in greater total output. The formal study of economics began when Adam Smith (1723–1790) published his famous book The Wealth of Nations in 1776. 13) 13) The distribution of income in a market system is a primary factor that resolves which of the following fundamental economic questions?
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