Explain the Market System Specialization
Explain the Market System Specialization?
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1. Division of labor allows workers to specialize.
a. People can take advantage of differences in abilities and skills.
b. People with identical skills may still benefit from specialization and improving certain skills.
c. Specialization saves time involved in shifting from one task to another.
2. Geographic specialization: Regional and international specialization take advantage of localized resources.
The Wealth of Nations that a pioneering survey of economic treated was published within: (1) 1849 year, and written by Karl Marx. (2) 1936 year, and written by John Maynard Keynes. (3) 1776 year, and written by Adam Smith. (4) 141 BC,
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