f 03/16/15 ~ EDU-MADE-EASY BLOG

Education is an ornament in prosperity and a refuge in adversity.

It is as impossible to withhold education from the receptive mind as it is impossible to force it upon the unreasoning. - Agnes Repplierg

Education aims to give you a boost up the ladder of knowledge.

Educating the mind without educating the heart is no education at all. - Aristotle

He who opens a school door, closes a prison.

If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest. - Ben Franklin

To the uneducated, an A is just three sticks.

To teach a man how he may learn to grow independently, and for himself, is perhaps the greatest service that one man can do another.

If you think education is expensive, try ignorance.

Education is what remains after one has forgotten what one has learned in school.

COMMERCE 101

INTER-RELATIONSHIP AMONG PRODUCTION, SPECIALIZATION & EXCHANGE
      Happy New Week Everyone, This is a Beautiful Week and Thank God we are Alive. Let's Get Started!!!.
       Exchange is as a result of Specialization and Production. They are related in the sense that Production is enhanced by the broken down processes that are performed by different people. Division of Labor and Specialization creates room for Mass Production.
Since individuals are not capable of producing all his requirements, the need for exchange arises.

                          HISTORY OF DIVISION OF LABOR
One of the Forefathers of Economics, Adam Smith who further explained the Theory of Division of Labor in 1776, in his book “The Wealth of Nations.” Adam Smith visited a place where Pins were made and found out that Pin-Making involved eighteen different processes at that time.
He also found out that one man was coordinating all the processes of Pin-Making alone; as a result of this rigorous and slow process he was producing 20 pins per day. Adam Smith came to a conclusion that if these Eighteen Pin-Making Processes were handled by different people, more pins will be produced.
      The idea of Division of Labor thought out by Smith was applied as a result, 48,000 Pins were