AS Paper 1, June 2019Introduction to Markets and Market Failure
AS Paper 1, June 2019, Q1(a)
The benefits of specialisation and division of labour are mostly associated with:
Multiple choice1 mark
Context
Henry Ford designed his first moving assembly line in 1913, and revolutionised the car production process of the Ford Model T. This assembly line, at the first Ford factory, became the benchmark for mass production methods around the world.
AAdam Smith
BFriedrich Hayek
CJohn Maynard Keynes
DKarl Marx