Commerce (SS)

DIVISION OF LABOUR, SPECIALIZATION AND EXCHANGE

Division of Labour is the breaking down of production processes into different stages so that each stage is undertaken or handled by an individual. For example, division of labour occurs in a textile factory where separate processes like spinning, weaving and dyeing are undertaken by separate workers in each case.   Specialization is the process […]

DIVISION OF LABOUR, SPECIALIZATION AND EXCHANGE Read More »