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Content: independently acting buyers and sellers and freedom to enter or leave markets
The division of labor means that: workers specialize in various production tasks. Specialization in production is important primarily because it: results in greater total output. Specialization—the division of labor—enhances productivity and efficiency by: 1. allowing workers to take advantage of existing differences in their abilities and skills. 2. avoiding the time loss involved in shifting from one production task to another. 3.