Question

How the economy is depended on the extent of division of labour? Write any three factors.

Answer 1

With respect to division of labour, three advantages are: a) Division of labour increases the efficiency of the labour.

Because of division of labour, every workers are assigned job according to the skill and knowledge of the worker.

b) The worker repeats his work and hence, the ability of a worker to complete his task on time increases.

c) Cost of production also decreases since skill and knowledge of the workers get increased due to division of labour. In turn, profit rises.