--%>
Assignment Help - homework help

Divisions of labor in production

Economic efficiency tends to be improved via: (1) Divisions of labor in specialization and production and trade according to comparative advantage. (2) Maximization of the opportunity costs. (3) Understanding macro-economics. (4) Intensive investments in education. (5) Common sense rather than theory.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Public Economics

  • Q : Influence of technology in production

    The production possibility frontier would not be prolonged by: (i) The Pilgrim’s increasing utilization of fertilizer after Native Americans exhibited them that corn grows better when a rotten fish is planted all along with seeds. (ii) Vandalism

    		•
  • Q : Effect of current investment Can

    Can someone help me in determining the right answer from the given options. Expanding the current investment associative to current consumption most directly raises an economy’s rate of: (1) Stagnation. (2) Capital absorption. (3) Economic growt

    		•
  • Q : Mixed economy of a market system

    Whenever compared to a mixed economy which relies primarily on the market system, the society which relies relatively greatly on brute force, queuing, and arbitrary selection tends to experience: (1) Powerful reducing returns. (2) Opportunity costs to drop. (3) Fast t

    		•
  • Q : When is a good taken as scarce Can

    Can anybody suggest me the proper explanation for given problem regarding scarcity in economics generally? A good is taken as scarce when people: (w) lack the funds required to make sure their survival. (x) require

    		•
  • Q : Determine when a good is scarce A good

    A good is scarce when: (1) individuals are willing to pay a positive price for more of this. (2) this is socially but not individually beneficial. (3) individuals are willing to pay to have this not produced. (4) more is obtainable at

    		•
  • Q : Crime punishment suggest by Jeremy

    Suggestion of Jeremy Bentham that crime must be punished proportionally to the harm completed to society, but without consideration of intent, remorse or motive.” His proposal would result within more than the optimal amount of crime due to the:

    		•
  • Q : Example of wasted water in inefficiency

    Why do people usually assume that water run on sidewalks and within the street while they water their lawns? Is that wasted water a symbol of inefficiency?

    		•
  • Q : Price Specie-Flow Mechanism-early

    The equation ΔMV is equal to ΔPQ while real GDP (which is adjusted for inflation), is fixed is a modern method to distinguish: (w) Adam Smith’s labor theory of value. (x) Francois Quesnay’s circular flow model. (y) Roberto Mich

    		•
  • Q : Law of diminishing returns The idea

    The idea that costs ultimately grow faster than output if output is expanded obeys logically from the law of: (i) Increasing expectations. (ii) Raising returns to scale. (iii) Diminishing returns. (iv) Demand and supply. (v) Rational effects.

    Q : Firm-production similar to output with

    When a firm could produce at least similar output with less of one resource and no additional of any other, mix of resources of the firm is technologically: (w) and economically efficient. (x) efficient, but economically inefficient. (y) inefficient, but economically

    		•