Answer:
The correct answer is It allows workers to specialize in a variety of skills
Explanation:
Job specialization (also known as division of labor) first proposed by the scottish economist Adam Smith, exposed in his main work "The Wealth of Nations" in 1776, refers to the process of breaking large jobs into smaller jobs assigned to individual workers. The purpose of job specialization is to focus each worker's concentration on a specific area of expertise within the production process. The argument states that, through the specialization and refinement of skills, productivity will increase.
1. Traditional - most traditional type of economy, and throughout the world many economies function this way. The areas with these economies are usually rural areas, or third world areas that are heavily dependent on farming. In this system, a surplus is rare, each member’s role is specific, and societies are closer knit along with more satisfied, although there is a lack of things such as technology and medicine that is more advanced.
2. Command - A big part of a command economy is controlled by power that is centralized such as the central government. A command system is the core of a communist economic system. The government is involved in most things big and small, along with owning most of the industries. most command economic systems tend to focus on things that are more valuable such as oil rather than jobs and other goods.
3. Market - economy is the free market have firms and households that act in their own self interest rather than in the interest of others. In a command economy the government keeps the profits while in a free market economy the forms and households keep their own profits. in a pure market economy there is no government intervention however none of this exists in the world. in this type of economy the central government in the market are completely separate so the government does not become too powerful.
4. Mixed - when different types of economies are combined this is called a mixed economy. this is usually a cross between a market economy and a command economy. in this type of economy the market is more or less free of government ownership except the government does own a few key things like transportation industries. sometimes in these economy as the government does regulate private businesses this is to use the best of both worlds to incorporate policies that are both socialist and capitalist to create a fair balance of both. most countries throughout the world have a mixed economic system.
I’m just gna take the free points here
