Human specialization—called the division of labour—contributes to a society's output in several ways.
• Specialization makes use of differences in ability. Specialization enables individuals to take advantage of existing differences in their abilities and skills. If caveman A is strong and swift, and good at tracking animals, and caveman B is weak and slow but patient, their distribution of talents can be most efficiently used if A hunts and B fishes.
• Specialization fosters learning by doing. Even if the abilities of A and B are identical, specialization may still be advantageous. By devoting all your time to a single task, you are more likely to develop the skills it requires and to devise improved techniques than you would by working at a number of different tasks. You learn to be a good hunter by going hunting every day.
• Specialization saves time. By devoting all your time to a single task you avoid the loss of time incurred in shifting from one job to another.
For all these reasons, specialization increases the total output society derives from limited resources.
medium of ExcHangE
Items sellers generally accept and buyers generally use to pay for a good or service.
bartEr The exchange of one good or service for another good or service.
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