An alternative term for "division of labor," specialization of labor is an industrial relations and human resources term that refers to the segmenting of large, labor-intensive tasks into workable subtasks that may be done by different workers or different groups of workers. Labor specialization ad...
Labor efficiency is a measure of how efficiently a given workforce accomplishes a task, as compared to the standard in an industry...
Economics is about the production, distribution and consumption of goods. A key decision facing workers, firms and nations is what goods to produce. The economic concept of specialization helps answer this question, economic actors concentrate their skil
what if the man with more is a harder worker or better money manager, and what if the man with less is lazy, foolish with money, etc... As far as the ideas of the founders and more specifically Madison's view, the idea of "equal division of property" as...
Enriquez, Corina Rodriguez
In a command economy, the government controls the economy through various commands, laws, and national goals which are used to coordinate complex social and economic systems. In other words, a social or political hierarchy determines what is produced, ho
Adam Smith, who is often referred to as the father of economics, believed that specialization and the division of labor were the most important causes of economic progress. Total output is increased when one worker specializes in one type of activity and trades with other specialized workers, sai...
An economy'sbalance of tradeis a comparison of the amount of money that is spent on imports of goods and services and the amount of money it earns on goods and services it exports. It is measured primarily by recording all of the products that pass through the customs office of a country...
Finance is a term for matters regarding the management, creation, and study of money and investments. It involves the use of credit and debt, securities, and investment to finance current projects using future income flows. Because of this temporal aspect, finance is closely linked to thetime v...
A revenue officer is an employee of a government or a public agency who collects delinquent taxes or fees. The job is performed on a case-by-case basis and generally involves directly contacting individuals or businesses that are in arrears on payments. At the federal level, revenue officers...