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Summary IGCSE Commerce: Specialization And Division Of Labor Notes (No Book Needed!)

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These class notes aid in removing the need for a book as they make clear all the topics needed to understand the chapter on Production for O level and IGCSE Commerce.

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September 3, 2022
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SPECIALIZATION AND DIVISION OF LABOR


Specialization:
When working people continuously do some work that they
select according to their ability or skills, they get a special
ability or competency in doing it, it is called specialization. For
example, a carpenter has a special ability when it comes to
making furniture. The special competency he gets by involving
in it for a long time, that is to produce quality and artistic
furniture, is specialization. Hence specialization is to do
something at which one is best at.


Division of labor:
Specialization is attained because of division of labor in which
work is divided into stages. Division of labor is separation of
work process into tasks and each task is performed by a separate
person or group. Therefore, division of labor is referred as
breaking down of a productive activity into simpler tasks so that
a person who specializes in that task can perform it.
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