Increased production through three different avenues

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1. Smith suggests that division of labor leads to increased production through three different avenues. Explain.

2. “It is the great multiplication of the production of all the different arts in consequence of the division of labour, which occasions in a well-governed society, that universal opulence which extends itself to the lowest rank of the people”. What does this sentence reveal about Smith’s views on what constitutes and what determines the wealth of nations?

3. Smith argues that in civilized society, humans rely at all times on the cooperation and assistance of others. How do we appeal to others for their help, according to Smith?

Answers can be found in Ch. I-II of Book One of the Wealth of Nations

Reference no: EM13853908

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