10 Questions
What is one of the reasons workers become more productive when they specialize in a task?
They become very good at it by doing the task over and over again.
What can be a disadvantage of specialization?
Workers may get bored doing the same task every day.
What is the primary function of money?
To act as a medium of exchange.
What is the main purpose of a current account or demand account?
To enable people to keep their money in a safe place.
What type of banks aim to make a profit by providing a range of banking services?
Commercial banks.
What is a characteristic of a current account?
Interest is paid on the money held in it
What is the primary function of a central bank as a banker to the government?
To keep the government's revenue in the form of taxes
What is the main difference between a current account and a deposit account?
Interest is paid only in deposit accounts
What is another function of a central bank?
To operate as a banker to the commercial banks
What is the primary purpose of a deposit account?
To save money for long-term goals
This quiz assesses your understanding of the benefits of specialization in the workforce. Topics include increased productivity, reduced training time, and cost savings.
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