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Marginal Product & Specialization

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Marginal Product & Specialization

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Test your knowledge on marginal product and specialization!

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Created by

sarah ayyad
sarah ayyad
United Arab Emirates

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Marginal Product & SpecializationOnline version

Test your knowledge on marginal product and specialization!

by sarah ayyad
1

Specialization can lead to economies of scale, which can lower production costs.

2

Marginal product can be calculated by dividing the change in output by the change in input.

3

Marginal product always increases as more units of input are added.

4

Marginal product is not useful for determining the optimal level of input usage.

5

Marginal product can only be calculated for physical inputs, not for human capital.

6

Specialization only benefits individuals or firms, not the overall economy.

7

Specialization allows individuals or firms to focus on producing goods or services in which they have a comparative advantage.

8

Specialization can lead to diseconomies of scale, which can increase production costs.

9

Marginal product can be used to determine the optimal level of input usage.

10

Marginal product can decrease as more units of input are added.

11

Specialization can lead to a more efficient allocation of resources.

12

Marginal product can be positive, negative, or zero.

13

Increasing specialization can lead to lower productivity and economic decline.

14

Marginal product is always positive.

15

Specialization can lead to a less efficient allocation of resources.

16

Specialization can lead to decreased trade and economic isolation.

17

Specialization can lead to increased trade and economic interdependence.

18

Marginal product measures the change in output resulting from a one-unit change in input.

19

Increasing specialization can lead to higher productivity and economic growth.

20

Marginal product measures the total output resulting from a one-unit change in input.

 
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