Question

what does division of labor in an economic context refer to?
the distribution of income among different sectors
the geographical division of industries
the division of stock shares in a corporation
the allocation of different tasks required to produce a good or service among workers
question 18
what is the study of economics primarily concerned with?
the study of government policies on trade and industry
the study of financial markets and banking systems
the study of resource distribution in different ecosystems
the study of how humans make choices under conditions of scarcity
question 19
what occurs when economies of scale are achieved in production?
the total output decreases while the average cost increases
the production output remains constant regardless of cost changes
the average cost of producing each individual unit declines as total output increases
each units cost increases as total output goes up

Explanation:

• Division of labor is about task - allocation among workers.
• Economics studies human choices under scarcity.
• Economies of scale mean lower per - unit cost with higher output.

Answer:

The allocation of different tasks required to produce a good or service among workers
The study of how humans make choices under conditions of scarcity
The average cost of producing each individual unit declines as total output increases