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Tagged with adam-smith division-of-labor
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What is the relationship between Adam Smith's theorem on the division of labor being limited by the extent of the market and his pin factory example?
What is the relationship between Adam Smith's theorem on the division of labor being limited by the extent of the market and his pin factory example? Are they each touching upon a different aspect of ...
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Comparing manufacturing and services sectors with respect to the scope for division of labor
In the Wealth of Nations, Adam Smith compares agriculture and manufacturing and concludes that due to the reduced scope for specialization in the former as compared to the latter, those economies that ...
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