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How is
specialisation
distinguished from the
division of labour
?
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Specialisation
: focusing on a narrow range of goods/tasks at any level (individual, firm, country).
Division of labour
: specifically splitting a
production process
into separate tasks for different workers.
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1.4.2 Specialisation, division of labour and exchange Flashcards
A Level
/
Economics
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1.4.2 Specialisation, division of labour and exchange