Education

ADVANTAGES OF DIVISION OF LABOUR/SPECIALIZATION 1) INCREASE EFFICIENCY-A person who performs the same job everyday becomes more efficient in his operations. 2) TIME SAVING-No time is wasted by moving from one task to another. 3) MECHANIZED PRODUCTION-Makes it possible the greater use of machinery. Complex process can be broken down into simple operations each conducted with use of different machines …

UNDERSTAND DIVISON OF LABOR IN LABOR MARKET Division of labour involves dividing a job into smaller jobs each of which will be performed by different person/persons. Each individual or each group of individuals performs a small part necessary to complete total job. Division of labor can be seen when different people opt different occupations e.g. doctors, engineers, teachers, traders, farmers, …

COMMERCE AS AN ECONOMIC ACTIVITY -Crude exchange is the earliest form of exchange which involved the exchange of goods for goods. This exchange is also known as barter system. -It was not until peaceful contact between different groups of people became possible that the first commercial transaction took place. -AS societies improved their means of production and with existence of …