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Economics Theme 4 > Specialisation > Flashcards

Specialisation Flashcards

1
Q

Specialisation

A

When a worker, firm, region or country produces a narrow range of goods and services

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2
Q

Advantages of specialisation

A

Greater output
Greater quality
Benefits of trade
Reduces problems of scarcity

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3
Q

Disadvantages of specialisation

A

Finite resources
Over-reliance on weather
Changing tastes/ fashions
Interdependence
De-industrialisation

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Economics Theme 4 (36 decks)

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