What role does specialization play in an economys standard of living?
Question:
What role does specialization play in an economy’s standard of living?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Specialization is a system in which individuals produce the goo...View the full answer
Answered By
Mercy Kangai
I provide creative and detailed administrative, web search, academic writing, data entry, Personal assistant, Content writing, Translation, Academic writing, editing and proofreading services. I excel at working under tight deadlines with strict expectations. I possess the self-discipline and time management skills necessary to have served as an academic writer for the past seven years. I can bring value to your business and help solve your administrative assistant issues. I have extensive experience in marketing and small business management.
4.80+
27+ Reviews
86+ Question Solved
Related Book For
Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
Question Posted:
Students also viewed these Business questions
-
1. What was the key issue that prompted the EU to take the Helms-Burton dispute to the WTO? 2. Who benefits the most from an embargo of this type? Who suffers? 3. Now that the United States and Cuba...
-
What would happen to the U.S. standard of living if people lost faith in the safety of the financial institutions? Explain.
-
You receive an anonymous tip that your controller is embezzling assets from your company. You begin your investigation by interviewing several employees in the accounting department, who report no...
-
Based on the information in Problems 9 and 10, what is Ryan and Nicoles liquidity ratio? What is their debt to asset ratio? Comment on each ratio. In Problems 10 Mortgage......... $ 43,500 Car...
-
On June 30, Blevins ASA discontinued its operations in Europe. During the year, the operating loss was 320,000 before taxes. On September 1, Blevins disposed of its European facilities at a pretax...
-
A study noted that the mean life span for 35 male symphony conductors was 73.4 years, in contrast to the mean of 69.5 years for males in the general population. The longer life span was attributed to...
-
a. What is the homeowner's daily energy requirement as measured from the load? b. If she replaces her alarm clock with a wind-up clock, how much energy per day will she avoid using? c. What would you...
-
Widmer Watercrafts predetermined overhead rate for year 2013 is 200% of direct labor. Information on the companys production activities during May 2013 follows. a. Purchased raw materials on credit,...
-
Ryanair Case The emergence of low-cost carriers (LCCs) in the early-to-mid 1990s opened air travel to customerswho otherwise might not have travelled by air or at all.By 2018,LCCs held 43% of the...
-
Breccon Co introduced a new product, DV, to its range last year. The machine used to mould each item is a bottleneck in the productionprocess meaning that a maximum of 5,000 units per annum can...
-
Is money the only store of value? If not, give some other examples of stores of value. Must money be a store of value to serve its function as a medium of exchange? Briefly explain.
-
What does the quantity theory indicate is the cause of inflation?
-
In recent years, many service businesses have begun to provide their employees with uniforms. Explain the rationale behind this strategy in terms of the concepts discussed in this chapter.
-
Key success factors. Dalworth Construction Company provides construction services for major projects. Managers at the company believe that construction is a people-management business, and they list...
-
What do you think is the optimum container ship size?
-
Which of the following distinguish mutual funds from other investments? a. Mutual funds have less price variability than stocks or bonds. b. Mutual funds provide diversification without a large...
-
During a lockout, a. no work can be done legally. b. strikebreakers are prevented from entering company property. c. a neutral third party helps two sides come to an agreement. d. workers are...
-
Which feature best describes a PERT chart? a. It creates a time line of production tasks. b. It creates a work flow for production equipment. c. It identifies the critical path of tasks in a project....
-
In human beings, the gene for b-globin is located on chromosome 11, and the gene for a-globin, which is another component of the hemoglobin protein, is located on chromosome 16. Would these two...
-
A copper wire (density = 8.96 g/cm 3 ) has a diameter of 0.25 mm. If a sample of this copper wire has a mass of 22 g, how long is the wire?
-
Just before the collapse of the subprime mortgage market in 2007, the most important credit-rating agencies rated mortgage-backed securities with Aaa and AAA ratings. Explain how it was possible that...
-
Do you think that a U.S. Treasury bill will have a risk premium that is higher than, lower than, or the same as that of a similar security (in terms of maturity and liquidity) issued by the...
-
The demand curve and supply curve for one-year discount bonds with a face value of $1,000 are represented by the following equations Bd: Price = 0.6 * Quantity + 1140 Bs: Price = Quantity + 700...
-
Wendy runs a factory that makes stereo tuners. Each S100 takes 6 ounces of plastic and 4 ounces of metal. Each FS20 requires 3 ounces of plastic and 6 ounces of metal. The factory has 252 ounces of...
-
If the high temperature steam has a temperature of 2 9 7 . 7 K and the low temperature reservoir has a temperature of 1 4 7 . 8 K what is the carnot efficiency of this process
-
Discuss the innovative idea/project addressing the problem below by the following (a) potential impact - (b) novelty and innovation- (c) feasibility- (d) sustainability- Reference: i. Potential...
Change Everything Creating An Economy For The Common Good 1st Edition - ISBN: 1783604727 - Free Book
Study smarter with the SolutionInn App