Division of labor improves efficiency on the job because it uses the concept of voluntary exchange job security specialization diversification a production possibilities frontier demonstrates the ability to produce something more efficiently the combinations of two goods that can be produced if the economy uses all of its resources fully and efficiently that if more of a product is initially being produced the opportunity cost to produce more always goes down economic problems faced by individual units within the overall economy

Specialization

Specialization is when an individual specializes and masters one particular art or service. This then leads to a division of tasks within the business arena and allowing each worker to focus on a particular aspect of work. Break up of tasks allows efficiency to prevail within the business arena and hence achieve success. Division of labor therefore can prevail by ensuring specialization being practiced.

the combinations of two goods that can be produced if the economy uses all of its resources fully and efficiently

Production Possiblities frontier focuses on understanding if all the resources present in the economy are implemented for the production of two goods such as consumer and capital goods, what is the trade off that will take place to produce an increased amount of one type of goods and to let go off the other type of the good. Hence the frontier is like a mirror image of Alphabet 'C'.

answer; ///blank(1); dealers; blank(2); brokers;

answermultidomestic strategy;