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WEEK 6
SUBJECT: COMMERCE
CLASS: SS1
TOPIC: PRODUCTION, DIVISION OF LABOUR, SPECIALIZATION AND EXCHANGE
CONTENT:
- Meaning of Division of Labour and specializations
- Advantages and disadvantages of division of labour and Specialization
- Limitation to division of labour and specializations
- Meaning of exchange and the interrelationship between production, division of labour, specialization and exchange.
SUB TOPIC 1: MEANING OF DIVISION OF LABOUR AND SPECIALISATION
Meaning of division of labour
Division of labour is the systematic breaking down of production processes into different stages so that each stage is handled or undertaken by an individual or a group of people.
Definition of Division of labour
Division of labour have been defined by various people. An author defines division of labour as a complex process mainly practiced in industrialized communities where a worker specializes in the production of a small portion of a product. Division of labour was defined by another author as the system of breaking down the production processes into segments and tasks, which can be performed by different individuals or machines
Meaning of Specialization
Specialization simply means the concentration of the productive effort of an individual, organization or country towards the production of certain commodities or line of production where it has greater comparative advantage over others.
Specialization can be defined as the permanent engagement of people in one aspect of the production process or in one type of occupation resulting in better and faster production.
Specialization can also be defined as the act of an individual or a country concentrating his/her or its resources and efforts in the production of relatively few commodities because of training, ability, experience or comparative location advantages.
EVALUATION
1a. What is division of labour?
1b. Define the term ‘specialization’
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