I'd like you to explore the concept of division of labor. Please make sure to address the following questions:

How important is the division of labor to a capitalist economy?

How does the division of labor lead to more efficient production?

What are some examples of division of labor and specialization from your personal experiences?

You are encouraged to do your own research on the division of labor to supplement the concepts we've covered in the first half of the course. You may also find the following links to be useful:

EconLib Division of Labor- https://www.econlib.org/library/Enc/DivisionofLabor.html

Harvard Business Review Division of Labor- https://hbr.org/2011/07/the-big-idea-the-age-of-hyperspecialization