Post Utme Osustech 2018 Commerce Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Osustech Commerce examination.

Post Utme Osustech 2018 Commerce Objective / Multiple Choice
Question 26 POST_UTME_OSUSTECH • 2018 • COMMERCE • objective

The concept of specialization in production is closely related to the idea of comparative advantage. Discuss how specialization can lead to increased efficiency and productivity in a country's economy.

Answer Options

Correct Answer A. Specialization leads to increased efficiency and productivity because it allows countries to focus on producing goods and services in which they have a comparative advantage.
B. Specialization leads to decreased efficiency and productivity because it limits the variety of goods and services produced by a country.
C. Specialization has no impact on efficiency and productivity because it is simply a matter of producing more of the same goods and services.
D. Specialization leads to increased efficiency and productivity because it allows countries to take advantage of economies of scale.
Correct Answer
A
Correct Option:
Specialization leads to increased efficiency and productivity because it allows countries to focus on producing goods and services in which they have a comparative advantage.

About This Question

This is Post Utme Osustech 2018 Commerce Question 26. It is one of the objective questions from the 2018 Post Utme Osustech Commerce examination.

View More Post Utme Osustech 2018 Commerce Questions More Post Utme Osustech Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support