Division Of Labour And Specialization Jamb Economics Past Questions
Question 6
External economies are
- A. The advantage accuring to a firm as a result of its expansion
- B. The advantages accuring to one firm as a result of the existence of other firms in the same locality
- C. Benefits derived by a firm as a result of its own individual policy
- D. Reaped only by agricultural firms
- E. Bound to increase the costs of production whatever the circumstances
Question 7
A change from one industry to another by a worker is an example of
- A. geographical mobility
- B. horizonatal mobility
- C. professional advancement
- D. veritcal mobility
Question 8
Two basic features common to an industry are
- A. production processes and source of capital
- B. source of capital and labour supply
- C. similarity of products and source of raw materials
- D. similarity of products and production processes
Question 9
In a car assembly plant, division of labour is demonstrated by
- A. assigning each worker to a specific activity
- B. assigning each worker a given number to produce
- C. increasing the daily output
- D. producing a specific model
Question 10
External economies arises essentially from__________
- A. a firm's individual policies
- B. localisation of industry
- C. government economic policy
- D. free transferability of shares
