Question

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
GPT-4o mini
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.

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