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.
For Economic system argues by Adam Smith relies heavily upon all the given concepts EXCEPT: (w) market expansion will be facilitated through capital accumulation. (x) prices will be driven to the lowest point at that production can ev
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