Explain why in a system with no division by Dr. Robert Murphy @Mises

Question 35 / 96: Explain why, in a system with no division of labor, it is likely that most people would be living in or on the edge of poverty

Answer:

The division of labor greatly enhances the productivity of labor,

meaning that more goods are produced per hour of labor. When

people specialize and trade, there is more stuff to go around.

Without the division of labor, everyone would produce his own

food, make his own clothes, etc., and would be extremely poor.

Sample Partial Credit Answer

People would grow their own food etc.

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https://www.jobilize.com/capitalism-the-market-economy-by-dr-robert-murphy-mises

Capitalism: The Market Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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