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Category: Business
Word Count: 290
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Adam Smith

Kenneth Wipperman
Econ 421
Assignment 4

1.     Adam Smith’s theory on the division of labor is based on two assumptions. The first being that if someone specializes doing one task they are going to get faster in doing that task than they would if they did multiple tasks. The second assumption is that if a person focuses on one task they are more likely to find a better way to do that task than if they did multiple tasks. This theory is a very sound one in my opinion. If a person does something
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