Adam Smith argued that division of labor increased productivity
Indicate whether the statement is true or false.
Answer: TRUE
Explanation: Smith felt that breaking down complex jobs into simple, repetitive tasks could allow a single worker to increase speed and thus increase productivity. Smith's idea was true, as division of labor is seen to increase productivity, but only up to a point.
Business
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Which of the following is a variable cost?
A) property taxes B) salary of plant manager C) direct materials cost D) straight-line depreciation expense
Business
The right of a borrower to pay off part or all of the debt prior to maturity, without penalty, is called:
A. Prepayment penalty. B. Prepayment privilege. C. Prepaid interest. D. Prepaid items.
Business