The division of labor means that:
A. labor markets are geographically segmented.
B. unskilled workers outnumber skilled workers.
C. workers specialize in various production tasks.
D. each worker performs a large number of tasks.
Answer: C
Economics
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The sacrifice of an alternative is called:
A) revenue. B) benefit. C) opportunity cost. D) production.
Economics
When money prices are used to facilitate comparisons of value, money is said to function as a
A) unit of account. B) medium of exchange. C) store of value. D) payments-system ruler.
Economics