Final answer:
The concept that involves breaking down the production of a product into small, elementary tasks performed by different workers is called division of labor.
Step-by-step explanation:
The concept that involves breaking down the production of a product into a series of small, elementary tasks, each of which is performed by a different worker is known as division of labor. This concept was popularized by Fredrick Taylor's principles of scientific management. Taylor's approach aimed to increase efficiency and profitability by dividing tasks into repetitive segments.