Division of labour

News


Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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Division of labour - definition

The division of labour is the process of breaking up a task or job into smaller, interconnected sub-tasks, thereby generating efficiency gains due to the positive effects of specialisation. Following Adam Smith, the significance of the division of labour is that, firstly, it can only be applied when markets are sufficiently large enough and, secondly, that the increasing division of labour provides a significant contribution to economic growth, and the 'wealth of nations'.


WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Savings ratio

Savings ratio falls to lowest level on record.

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