Division of Labor and Specialization

How does specialization encourage international trade? 

• When countries specialize in one product, they can master it and sell it to other nations. 
• When countries make many different products, they do not have to trade. 
• Specialization uses resources from many countries. 
• Specialization does not encourage international trade.

How does division of labor increase productivity?

• Workers require minimal training.
• Workers require minimal training.
• Workers become expert at one task.
• Workers move often from job to job.

•Workers perform fewer tasks in order to operate more efficiently

• Land
• Division of Labor
• Factors of Producation 
• Marginal Benefit

when people are experts in their field to the degree that they can offer services for sale to customers, they are demonstrating which of the following economic concepts?

• division of labor
• specialization
• paradox of value

Mrs. Pinero opens her own store, selling pink pencils. Her business is an example of

• Division of labor
• Mass production
• Specialization
• Pinkship

You give up one thing to have more of another in _________________.

• a trade off
• an opportunity
• production
• scarcity