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economies of scale (forces that reduce a firm's average cost as the scale of operations increases in the long-run)

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What theory did Adam smith develope after visiting the pin factory?

Specialization and division of labor


After visiting the pin factory Adam smith developed which theory?

After visiting the pin factory, Adam Smith developed the theory of division of labor, which states that breaking down tasks into smaller, specialized parts can increase productivity and efficiency. Smith's observations at the pin factory highlighted the benefits of specialization in the production process.


What type of manufacturing did Adam smith use to illustrate the effects of the division of labor?

Adam Smith used the example of a pin factory to illustrate the effects of the division of labor. He described how breaking down the production process into specialized tasks increased efficiency and productivity in manufacturing.


What was revolutionary about Adam Smith's pin factory?

The revolutionary value of Adam Smith's pin factory can not be overstated. Before Smith's pin factory came along, pins did not have a pointy end. In fact before Adam Smith's new design, pins were made with a flat base similar to that of a nail. Needless to say - seamstresses, patients, and voodoo doctors realise the revolutionary work Smith and celebrate his birthday every year.


What is PIN code in entertainment-factory?

12345


What is pin code in entertainment factory?

12345


How do you disable a factory installed car alarm on a 2008 Civic si?

From http://www.8thcivic.com/forums/i-c-e-electrical-security-navigation/2286-fuse-wire-guide.html Factory Alarm Arm - orange (-) dr kick or MICU, 34 pin plug, pin 32 Factory Alarm Disarm - brown (-) dr kick or MICU, 34 pin plug, pin 31 Civic


What is an example of specialization in economics?

In a pin factory one worker measures the wire, another cuts it, one points it, and others make the head and so on. In this manner the workers produce thousands more pins than they would if each worker made a whole pin by themselves.


Can't find cylinder pin for H R 922 serial n30694?

Try e-gunparts.com, gun shows, gun shops, gun smiths.


Factory alarm bypass 1994 Isuzu trooper?

Ground the factory hood pin so that the vehicle thinks the hood is open, it will never arm again.


What is a pinprick?

A prick caused by a pin. Example: he had a pinprick.


How do you make a sentence with the word pin?

"alfiler" is the answer i belive your looking for. pendejo