Overview
Explain the concept/factors of production State and explain the characteristics of each factor of production. Explain the meaning of division of labour State the difference between specialization and division of labour. Identify the advantages, disadvantages and limitation of division of labour. State the advantages and disadvantages of large scale production
What you'll learn
- Meaning of production.
- Types of production
- Factors of production
- Division of labour and specialization
- Scale of production