Archive | Division of Labour

Define Division of Labour | Economics

Division of labour refers to the splitting of tasks or jobs among the individuals that constitute a firm, a household, or even an entire economy. The classic example of the division of labour is Adam Smith's description of the pin factory, a very productive enterprise in which tasks were divided among workers. Some workers only drew the wire, others only [...]

By Nipun S|2017-01-13T05:58:23+05:30January 13, 2017|Division of Labour|Comments Off

Division of Labour: Meaning, Forms and Advantages | Economics

Let us make an in-depth study of the Division of Labour in Economics:- 1. Meaning of Division of Labour 2. Definition of Division of Labour 3. Essential Conditions 4. Different Forms 5. Advantages 6. Disadvantages 7. Remedies and Mitigation. Meaning of Division of Labour: Division of Labour means that the main process of production is split up into many simple [...]

By Saqib Shaikh|2015-11-17T05:03:30+05:30November 16, 2015|Division of Labour|Comments Off