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Home / Questions / Why do most people choose to specialize in a narrow set of skills for their work, rather t

Why do most people choose to specialize in a narrow set of skills for their work, rather t

Why do most people choose to specialize in a narrow set of skills for their work, rather than to learn a little bit about several varied fields of endeavor?

A) They feel that doing so will minimize their chances of being unemployed.

B) They don't correctly perceive the costs of being so specialized.

C) It allows them to earn more income by being more productive.

D) They are unaware of how much better off they would be if they diversified their skills.

31) John and Mary work at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario,

A) the opportunity cost of decorating a wedding cake for Mary is 4 ice-cream cakes.

B) the opportunity cost of decorating a wedding cake for Mary is 1/4 ice-cream cake.

C) the opportunity cost of decorating a wedding cake for Mary is 2 1/2 ice-cream cakes.

D) the opportunity cost of decorating a wedding cake for Mary is 2/5 ice-cream cake.

32) John and Mary work at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario,

A) the opportunity cost of decorating an ice-cream cake for John is 1/4 wedding cake.

B) the opportunity cost of decorating an ice-cream cake for John is 2/5 wedding cake.

C) the opportunity cost of decorating an ice-cream cake for John is 2.5 wedding cakes.

D) the opportunity cost of decorating an ice-cream cake for John is 4 wedding cakes.

33) John and Mary work eight hours at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario,

A) Mary has the absolute advantage in decorating wedding cakes.

B) John has the absolute advantage in decorating wedding cakes.

C) Mary has the comparative advantage in decorating wedding cakes.

D) John has the comparative advantage in decorating ice-cream cakes.

34) John and Mary work eight hours at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario,

A) Mary has the absolute advantage in decorating wedding cakes.

B) Mary has the absolute advantage in decorating ice-cream cakes.

C) Mary has the comparative advantage in decorating ice-cream cakes.

D) John has the comparative advantage in decorating ice-cream cakes.

35) One of the benefits of specialization is

A) greater output.

B) people enjoy doing one repetitive task over and over.

C) specialists cost less to hire.

D) training costs are higher.

36) If Irene can make either four chairs or one table in an hour and Greg can make either three chairs or two tables in an hour, then

A) Irene has the absolute advantage in the production of tables.

B) Greg has the absolute advantage in the production of chairs.

C) Irene has the comparative advantage in the production of chairs.

D) Greg has the comparative advantage in the production of chairs.

37) If Irene can make either four chairs or one table in an hour and Greg can make either three chairs or two tables in an hour then

A) Irene has the absolute advantage in the production of chairs.

B) Irene has the comparative advantage in the production of tables.

C) Greg has the absolute advantage in the production of chairs.

  • D) Greg has the comparative advantage in the production of chairs.

Dec 10 2019 View more View Less

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