Economics WAEC

An entrepreneur is encouraged to adopt the division of labour in production because of it?

A. provide more employment opportunities
B. leads to increased output and lower cost of production
C. brings about equal cost and employment opportunities
D. leads to the increased cost of production and lower output

Correct Answer: Option B

B. leads to increased output and lower cost of production

Explanation

Division of labor is immensely important in our economic system because it allows for work to be done much more quickly and efficiently than it would be without the division of labor. Division of labor is when tasks are split up into specialized separate tasks. it brings about increased output and while minimizing cost

Sunday

Share
Published by
Sunday
Tags: economics

Recent Posts

ETM 312 Theory Questions: Land Law and the Consequences of Unauthorized Land Transfers in Nigeria

300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Co-Ownership Structures and Land Acquisition Methods in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Rights in Community Land and Fundamental Land Concepts in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Customary Land Control and the Origins of Nigeria’s Land Use Act

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Land Ownership Principles and Transaction Laws in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 226 Theory Questions: Trespass: Types and Defenses in Property Law

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago