How does division of labor affect the final product?
(A) lower price lower quality
(B) lower price higher quality
(C) higher price lower quality
(D) higher price higher quality
The division of labor refers to breaking down a complex task into smaller, more specialized tasks that are assigned to different individuals or groups. This concept was popularized by Adam Smith in his book "The Wealth of Nations."
When it comes to the effect of division of labor on the final product, we need to consider how specialization can impact the price and quality of the product.
To determine the correct answer among the options provided, we can use our understanding of how division of labor works. When tasks are divided and assigned to specific specialists, they can focus on their assigned tasks and become more efficient at performing them. This increased efficiency can lead to lower costs and potentially higher quality in the final product.
Considering this information, the most likely answer is (B) lower price higher quality. By having workers specialize in specific tasks, they can become more proficient at those tasks, leading to increased productivity and efficiency. As a result, the cost of production decreases, allowing for a lower price for consumers. Additionally, the increased expertise in their respective tasks can contribute to a higher quality final product.
It is important to note that this is a general observation, and various factors can influence the outcome. However, the division of labor commonly leads to these effects.