The division of labor refers to the assignment of specific jobs to specific people. This concept involves breaking down a production process into distinct tasks, each performed by different individuals or groups, allowing for greater efficiency and specialization. By specializing in specific tasks, workers can become more skilled and productive, which can lead to increased overall output and economic efficiency.
What is division of labor?
the assignment of wants based on needs
the assignment of skills to people based on current needs
the assignment of specific jobs to specific people
the assignment of different capital resources
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