Specialisation and Trade Flashcards
What is specialisation?
The progress of concentrating on a task or an activity in order to become an expert in that field.
What is the division of labour?
The process where production is split into a sequence of stages, where workers are assigned to particular stages.
What is the correlation between specialisation and the division of labour?
If labour is split up, then the workers are more likely to become more specialist at the particular task.
What is over-specialisation?
Over-specialisation is when a worker becomes so specialised that they d the same task over and over which may lead to them become lazy, which may cause them to make mistakes or become careless.
What is ten correlation between specialisation and opportunity cost?
Specialisation can sometimes help to deal with opportunity cost as it can make workers produce more goods overall.
