This article provides an in-depth study of how and why there is specialization by workers in an economy, with considerable attention given to the philosophies of Adam Smith.

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Concepts

comparative advantage, division of labor, economic growth, specialization, surplus, adam smith

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Additional Tags

absolute advantage, economic specialization, complex dynamics in a model of economic specialization [pdf]

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Classroom Considerations

Knovation Readability Score: 5 (1 low difficulty, 5 high difficulty)

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