This quiz works best with JavaScript enabled. Home > Economics > Production > Labor > Division Of Labor And Specialization – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Division Of Labor And Specialization Quiz 1 (8 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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? A) Division of labor. B) Specialization. C) Paradox of value. D) None of above. Show Answer Correct Answer: B) Specialization. 2. Disruption in one production stage results in which of the following? A) Comparison of work in other production stages. B) Slow down of work in other production stages. C) Stoppage of work in other production stages. D) Continuance of work in other production stages. Show Answer Correct Answer: C) Stoppage of work in other production stages. 3. There are ..... types of division of labor. A) Two. B) Four. C) Five. D) Three. Show Answer Correct Answer: D) Three. 4. *Workers perform fewer tasks in order to operate more efficiently A) Land. B) Division of Labor. C) Factors of Producation. D) Marginal Benefit. Show Answer Correct Answer: B) Division of Labor. 5. Mrs. Pinero opens her own store, selling pink pencils. Her business is an example of A) Specialization. B) Division of labor. C) Pinkship. D) Mass production. Show Answer Correct Answer: A) Specialization. 6. You give up one thing to have more of another in ..... A) Scarcity. B) An opportunity. C) Production. D) A trade off. Show Answer Correct Answer: D) A trade off. 7. Which of the following is not an advantage of Division of Labor? A) Raising living standards. B) Resources are saved. C) Raising labor productivity. D) Greater risk of unemployment. Show Answer Correct Answer: D) Greater risk of unemployment. 8. Kathy, Sue, and Christina own a bakery. Each day all three women spend hours baking cakes, decorating cakes, and packaging cakes. Which economic concept would help them become more efficient? A) Scarcity. B) Interdependence. C) Specialization. D) Productivity. Show Answer Correct Answer: C) Specialization. Related QuizzesProduction QuizzesEconomics Quizzes 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books