In the first chapter of The Wealth of Nations, Smith introduces the idea of the __________, which means the way in which the work required to produce a good or service is divided into a number of tasks that are performed by different workers.
A) division of labor
B) interconnected economy
C) task economy
D) modern economy

Question

Quizplus · Accepted Answer

Adam Smith introduces the concept of the "division of labor" in the first chapter of The Wealth of Nations, explaining how dividing work into different tasks enhances productivity and efficiency.

In the First Chapter of the Wealth of Nations, Smith