Division Of Labour And Specialization Jamb Economics Past Questions
Question 11
The basic principle underlying location of industry is the tendency for production of a commodity to be located on the basis of______
- A. division of labour
- B. employment trends
- C. relative costs and benefits
- D. immobility of skilled labour
Question 12
A major advantage of specialization and division of labour is that?
- A. time wastage will be minimized
- B. trade unions will be encouraged
- C. there will be a ready market for labour
- D. workers will be adequately rewarded
Question 13
A possible factor which limits the extent of growth of a firm is the?
- A. existence of a monoploy
- B. bureaucratic delays in decision-making
- C. use of by-products
- D. unwillingness to share ownership and control
Question 14
The higher the price of capital relative to the price of labour, the more production techniques should be?
- A. labour-intensive
- B. capital-intensive
- C. fixed
- D. technology-intensive
Question 15
Firms are often set up close to each other in order to take advantage of?
- A. supply or skilled labour
- B. agglomeration economies
- C. internal economies of scale
- D. external economies of scale
