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Economics > Specialisation, Division of Labour, and Exchange > Flashcards

Specialisation, Division of Labour, and Exchange Flashcards

1
Q

What is Specialisation?

A

When a Firm, Country, or Region, become an expert at a specific Job or Field

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2
Q

What is Division of Labour

A

Specific Small production tasks are allocated to to members of staff

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3
Q

Advantages of Division of Labour

A

Greater Consistency, Increased Production

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4
Q

Disadvantages of Division of Labour

A

Demotivated Workforce, Boredom

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Economics (8 decks)

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