Productivity and Specialization

Front

What is productivity?

Back

amount of goods or services workers can produce in a period of time

Front

What is the main goal for businesses?

Back

profit

Front

What would be an example of technology improving productivity?

Back

computers

Front

What are three ways businesses can improve productivity? Options: trained and educated workers, equipment, technology

Back

trained and educated workers, equipment, technology

Front

How do consumers benefit from companies being more productive?

Back

the cost decreases

Front

Why are educated and trained workers often more productive?

Back

because they think quicker and more efficient

Front

Profits are the amounts of goods and services.

Back

False

Front

Productivity is profit.

Back

False

Front

Macroeconomics focuses on large-scale or general economic factors.

Back

True

Front

Trade-offs are the sacrifices you made when you made your choice.

Back

True