Division of labour, specialisation and exchange

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Division of labour
Dividing up the production process into separate roles
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Specialisation
Each worker becomes extremely skilled at their particular job
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Productivity
This allows workers to increase their productivity
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PPB
The PPB curve will shift outwards
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Productivity definition
A measure of efficiency, the ratio of input to output. (unit of output per worker, per hour)
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Other cards in this set

Card 2

Front

Each worker becomes extremely skilled at their particular job

Back

Specialisation

Card 3

Front

This allows workers to increase their productivity

Back

Preview of the back of card 3

Card 4

Front

The PPB curve will shift outwards

Back

Preview of the back of card 4

Card 5

Front

A measure of efficiency, the ratio of input to output. (unit of output per worker, per hour)

Back

Preview of the back of card 5

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