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In business courses that begin to discuss specialization they often begin by discussing the advent of automobile factories. This is often thought of as one of the first major experiences of manufacturing work specialization where the division of labor and tasks were highly specialized.
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They can focus on what they do best
Which phrase best illustrates the theory of laissez-faire capitalism?
h
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Free trade encourages specialization because competition leads each country to concentrate on the things it does best.
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