Question

Mentioned the two important keystones of smithian theory in economic development.​

Answer 1

Answer:

• The crucial aspects of development theory as propounded by Adam Smith are – (1) division of labour and (2) capital accumulation. Productivity of labors increases through division of labour. The two factors that facilitate the use of more division of labour are capital accumulation and size of market.

Answer 2

Answer:

The crucial aspects of development theory as propounded by Adam Smith are – (1) division of labour and (2) capital accumulation. Productivity of labors increases through division of labour. The two factors that facilitate the use of more division of labour are capital accumulation and size of market

Explanation:

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