Objective: Book 1, Chapter 1 *Introduction and Plan of the Work* Adam Smith says that advances in productivity come from increased specialization of labor and that division of labor enables technology to develop. In this lesson the students will learn the issues Smith introduces about the different plans of the annual labor and annual consumption of a nation which will support the foundation for the division of labor in that society.
1) In class writing - Define the "annual labor" of a nation. What are its characteristics? What is included? What is the relationship between annual labor and annual consumption?
2) Groups - Split the class into two groups. Smith says that the first book will explain in detail how the annual consumption, determined by the proportion between the number of consumers and the total consumption, is regulated in two different ways.
Group 1 - The first means of regulation has to...
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