1) According to Adam Smith, which of the following contribute towards the increa
ID: 2440536 • Letter: 1
Question
1) According to Adam Smith, which of the following contribute towards the increased productivity of the division of labor (Choose all that apply)
Inventions
Increased dexterity
Reduced sauntering
Using local knowledge of time and place
2)
Which of the following are agents (choose all that apply)
Driver for a trucking company
Manager of a corporation
Small business owner
Janitor
3)
According to Adam Smith, which of the following contribute towards the increased productivity of the division of labor (Choose all that apply)
Inventions
Increased dexterity
Reduced sauntering
Using local knowledge of time and place
Inventions
Increased dexterity
Reduced sauntering
Using local knowledge of time and place
Explanation / Answer
1) Inventions,increased dexterity and reduced sauntering increases productivity of division of labour according to Adam Smith.
Workers efficiency increases when he does the work again and again and this leads to inventions as well.Reduced sauntering saves time which is otherwise wasted when the worker moves from one type of work to another.
2)Manager of a corporation and Janitor is agent .
The corporation has given the manager full authority to to work for the corporation.The janitor also works for some other person.Driver for a trucking company and small business owner are not agents because they own the company.
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