specialization

Question 1

define specialization

Answer 1

specialization is the production of a limited range of goods by an individual, firms, regions or countries

Question 2

what is specialization by individuals?

Answer 2

an individual becomes specialized when they focus on a narrow range of tasks

Question 3

what is specialization by firms?

Answer 3

firms specialize in a narrow range of products to become experts in their field. this improves the firms efficiency by employing specialized workers leading to enjoy lower costs as it produces more output

Question 4

what is specialization by regions?

Answer 4

certain geographical regions in some countries specialize in certain production activities

Question 5

what is specialization by countries?

Answer 5

some countries specialize in producing certain goods and services which they can trade with other countries

Question 6

define division of labour

Answer 6

is the separation of a work process into a number of tasks, with each task being performed by a separate person or group of peoples

Question 7

list down 3 advantages of division of labour

Answer 7

1. workers become faster at producing goods
2. less time consuming
3. more motivation leading to job satisfaction

Question 8

list down 3 disadvantages of division of labour

Answer 8

1. boredom due to repetitive tasks
2. work related diseases
3. if few specialized workers get absent, there would be no-one else with the same skills and it may disturb the production process