Answer: True
Explanation: Specialisation of labour in production is the process of classifying People who have different skills, talents, and interests into groups so they will be better at what they do.
Specialisation in certain tasks often aid workers to produce more quickly and with higher quality especially in assembly line laborers.
Specialization also allows businesses to take advantage of economies of scale, which means that for many goods, as the level of production increases, the average cost of producing each individual unit declines.
The division and specialization of labor has been a force against the problem of scarcity as more product will be produced as against when there is not specialisation in division of labour.
Answer:
When the LARC (Long Run Average Cost) curve slopes downward over the relevant or material range of the output
Explanation:
LRAC stands for Long Run Average Cost, is that curve which represents the average cost, in the long period for producing a given or stated quantity of the output.
So, the one situation which will minimize the efficient scale of operation provide no guidance is when the LARC curve is downward sloping over the material range of the output. It states that the market should be served by a single firm in order to minimize the aggregate cost of the production.
Answer:
Sophie's policy will pay up to its maximum amount of $100,000 and John's policy should pay the rest ($200,000).
Explanation:
Personal Auto Policies (PAP) provide coverage in case of injury to the insured or other third parties involved in a car accident. PAP policies provide coverage even when you occasional borrow a car. If you regularly drive someone else's car you need extended non owned liability coverage endorsement.
The most useful way of standardizing financial statements is to choose a _<u>base year</u>,_ and then express each item in the period under review relative to the _amounts____ in the base year.
<h3>What are comparative financial statements?</h3>
Comparative financial statements compare a particular financial statement with previous statements. Previous financial statements are presented in side-by-side columns with the latest figures. With this, investors are able to track a company's progress over some periods and compare the company's financial results and performance with its industry competitors.
Thus, financial statements can be compared using financial ratios, which express the relationships between the various items within a financial statement, or using a base year.
Learn more about comparative financial statements and financial ratios here: brainly.com/question/9091091
Volatility in the markets invested in because it leads to large fluctuations in capital which can lead to gains but also big losses
