Concentrating on a large number of goods and activities is called specialization.
A true
B false
B false
B false
The correct answer is A) true.
To determine the correct answer, we can break down the question and analyze the given statement.
The statement says that specializing in a wide range of goods and activities is called specialization. Specialization refers to the process of focusing on a specific area, skill, or task, and becoming highly skilled or knowledgeable in that area. It involves allocating resources, such as time, capital, and labor, to produce a specific good or provide a specific service.
Based on this understanding, we can see that the statement is accurate. Specialization does involve concentrating on a large number of goods and activities. This is because when individuals or businesses specialize, they tend to focus on a specific aspect of production, rather than trying to produce or engage in everything themselves.
For example, a car manufacturer may specialize in producing vehicles, while purchasing other goods and services from specialized suppliers for components like tires, batteries, and electronics. This allows each party to focus on their area of expertise, leading to increased efficiency and productivity.
Therefore, the correct answer is A) true.