Adam Smith, the father of modern economics, wrote The Wealth of Nations in 1776. A key example in his book was a pin "manufactory." "The important business of making a pin is ... divided into about eighteen

Adam Smith, the father of modern economics, wrote The Wealth of Nations in 1776. A key example in his book was a pin "manufactory." "The important business of making a pin is ... divided into about eighteen distinct operations," he wrote. Ten men were able to make 240 times as many pins as each working separately might accomplish. This is how Smith explained __________.

a. division of resources
b. pin manufacturing in the 1700s
c. division of labor and specialization.

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