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1.1 Nature of economics

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Question 50

In 1769, Josiah Wedgwood opened the Etruria works in Staffordshire, pioneering a highly structured system where workers specialised in specific tasks like throwing, turning, or painting pottery, rather than making a whole vessel from start to finish. This early industrial system demonstrated the immense productivity gains from organising labor in this way.

Which of the following economists is most famously associated with demonstrating the benefits of specialisation and the division of labour?

Friedrich Hayek

Karl Marx

John Maynard Keynes

Adam Smith

1.1 Nature of economics Questions

  1. A Level
  2. /Economics
  3. /1.1 Nature of economics