ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Division of labor is an economic idea and practice in which the production process is segmented so that each worker performs certain jobs that they are best at. A single worker or a group of workers performs a specific task.

Detailed explanation-2: -division of labour, the separation of a work process into a number of tasks, with each task performed by a separate person or group of persons. It is most often applied to systems of mass production and is one of the basic organizing principles of the assembly line.

Detailed explanation-3: -What is the specialization of labor? Specialization of labor, or division of labor, occurs when companies divide their production or service process into several set tasks. Employees repeat a single portion of the production process rather than performing multiple tasks themselves.

Detailed explanation-4: -Specialization is important because it greatly improves productivity – the ratio of inputs to outputs. The typical example is the assembly line. Producing goods on an assembly line increases productivity because multiple tasks can happen simultaneously and just when they are needed.

Detailed explanation-5: -Division of labor is an important economic concept that refers to the separation of tasks in a production process. Division of work can also be referred to as specialization, where workers are assigned smaller, manageable tasks that contribute to the larger main activity.