division of labour

Question 1

define specialisation

Answer 1

the production of a limited range of goods by individuals, firms, regions or countries

Question 2

specialization by individuals (division of labour)

Answer 2

The division of labour allows workers to focus on a specific task. It increases efficiency as workers can specialise in their work. however, work may become boring and repetitive, leading to less efficiency.

Question 3

specialisation by firms

Answer 3

The majority of firms specialise in a narrow range of goods. Such firms will become experts in their field. This will improve efficiency, as they can employ specialist staff and use a limited amount of resources. they will also enjoy lower costs as it provides more output

Question 4

specialisation by regions

Answer 4

certain geographical areas are fit to specialise in a narrow range of products

Question 5

specialisation by country

Answer 5

will raise countries economies and their standard of living