Question

Describe how pins were made at the time according to Adam Smith description

Answer 1

Answer:

Smith gave the famous example of pins. He asserted that ten workers could produce 48,000 pins per day if each of eighteen specialized tasks was assigned to particular workers. Average productivity: 4,800 pins per worker per day. But absent the division of labor, a worker would be lucky to produce even one pin per day

Explanation:

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