Adam Smith stated that specialization of labor was limited by the extent of the market and that
Question:
Adam Smith stated that specialization of labor was limited by the extent of the market and that transportation helps to expand the market. Explain the meaning and importance of this statement.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 37% (8 reviews)
This sttement by dm Smith men tht trnsrttin signifintly ntriutes t gegrhi nd lbr seiliztin Effiient ...View the full answer
Answered By
Antony Mutonga
I am a professional educator and writer with exceptional skills in assisting bloggers and other specializations that necessitate a fantastic writer. One of the most significant parts of being the best is that I have provided excellent service to a large number of clients. With my exceptional abilities, I have amassed a large number of references, allowing me to continue working as a respected and admired writer. As a skilled content writer, I am also a reputable IT writer with the necessary talents to turn papers into exceptional results.
4.50+
2+ Reviews
10+ Question Solved
Related Book For
Transportation A Global Supply Chain Perspective
ISBN: 9781337406642
9th Edition
Authors: Robert A. Novack, Brian Gibson, Yoshinori Suzuki, John J. Coyle
Question Posted:
Students also viewed these Business questions
-
Adam Smith stated the specialization of labor was limited by the extent of the market and that transportation helps to expand the market. Explain this statement.
-
Adam Smith was wrong when he claimed that a monopoly would always charge "the highest price which can be got."
-
Adam Smith wrote the following in The Theory of Moral Sentiments: In the practice of the other virtues, our conduct should rather be directed by a certain idea of propriety, by a certain taste for a...
-
You are given the following information concerning four stocks: a) Using 20X0 as the base year, construct three aggregate measures of the market that simulate the Dow Jones Industrial Average, the...
-
A cubic box measures 39.3 cm on an edge. What is the volume of the box in cubic centimeters? Express the answer to the correct number of significant figures.
-
Fitness Elite Corporation had the following information available for 2012: Fitness Elite Corporation reported net income of $275,000 for the year. Depreciation expense, included on the income...
-
Find a currency of your choice. How has its value changed against the U.S. dollar over the last ninety days? What about since January 3, 1975?
-
During an audit engagement, Harper, CPA, has satisfactorily completed an examination of accounts payable and other liabilities and now plans to determine whether there are any loss contingencies...
-
Determine the graph of the equation. +-2=4 Choose the correct graph of the equation. O A. C. B. O D. G
-
You have just graduated from college and are looking to buy your first car. Money is tight right now, so you are concerned with initial cost as well as ongoing expenses. At the same time, you dont...
-
Economists often point to the impact of improved transportation on land values and related economic development. What is the nature and significance of the transportation impact?
-
Compare and contrast time and place utility, and explain how they contribute to the value of products. What is the importance of time and place utility in our global economy?
-
On July 1, 2014, Melanie Thornhill began her third month of operating an electronics repair shop called MT Repairs out of her dad's garage. The following occurred during the third month of...
-
Some 11,700 Irish customers have been left waiting for goods ordered from Ikea as the furniture giant experiences supply chain issues. The Irish Times reports that the retailer has blamed Brexit and...
-
11. The cell organelle responsible for the packaging of proteins is the a. ribosome. b. Golgi complex. c. rER. d. lysosome. . 12. Which of the following cell organelles contain digestive enzymes? a....
-
Facts of your case: Your office represents Georgina Olivier-Mata in a case against Bank of America. The case has not been filed yet for "sexual harassment". Your employer, Attorney Tina Fey, has been...
-
12) Multiply on a clock: 54 13) Compute 37 mod 7
-
Calculate savings, MPC, MPS, break-even income, and the equilibrium level of income (Y = AE = C + I + G +NX) in the below given information. Draw a graph showing disposable income (Yd) on the...
-
A 2-year maturity bond with $1,000 face value makes annual coupon payments of $65 and is selling at face value. What will be the rate of return on the bond if its yield to maturity at the end of the...
-
What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability...
-
Describe the challenges that governments and organizations face when addressing transportation security risks?
-
1. Assess the transportation risks identified in the brainstorming session using a table similar to the one found in Figure 9-2. 2. Based on your answer to Q1, what do you consider to be the three...
-
1. What issues should Magness evaluate in his assessment of transportation risks? 2. Analyze each supplier option that Magness is considering. What specific risks does each supplier option present?...
-
In 2022, Anne had a $24,000 net short-term capital loss and deducted $3,000 as a capital loss deduction. In 2023, Anne has a $36,000 0%/15%/20% long-term capital gain and no other capital gain or...
-
There is little evidence to suggest that ABC systems improve return on assets in entities that use it. True False
-
A kennel designed for boarding small dogs has current assets of $8,000, current liabilities of $2,000, and fixed assets of $25,000. The small company has a current ratio of:Group of answer...
Study smarter with the SolutionInn App