Production, Division of Labour, Specialization and Exchange

Overview

Defining: - Production and - Division of labour - Specialization - Exchange. Classifying production. Listing factors of production. Explaining the interrelationship among: production division of labour specialization exchange.

Lesson details

Class: SS1
Subject: Commerce
Theme: Trade And Business Organizations
Duration: 30:12

What you'll learn

Meaning:
Production and division of labour;
Specialization
Exchange.
Classification of production Primary
• Industry extractive manufacturing construction Secondary Trade;
Aids to trade
Tertiary
Direct and indirect.

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Production, Division of Labour, Specialization and Exchange

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