WAEC Economics 1993 Question 38

Question 38

Theory of Production

Division of labour gives rise to

  1. A.the exchange of goods and services
  2. B.the use of a barter system
  3. C.the production of limited goods
  4. D.unemployment
  5. E.delay in production.
Show the answer and explanation

Answer: A (the exchange of goods and services)

Explanation

When people specialise they produce more of one thing and must exchange to get other goods.