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WhAT IS the impact of a division of labor and specialization in the product of goods?
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Specialization of goods?
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What is difference between product and productivity?
productivity is the number of goods made by division of employees...production is the number of goods made
When an economy relies on specialization?
trade enables individuals to obtain the goods in which they do not have a specialization
How free trade relates to specialization of supply of and cost of goods?
explaine how free trade relates to specialization of supply of and cost of goods
What is the difference between division of labor by product and the division of labor by process?
division of labour by product is people who exchange things for money and use the money to buy goods and services therefore division of labour by process is organising production in stages or process
Why does specialization make trade between countries easier?
When a country is good at making their product they specialize in it, and improve the product to make more money. If another country doesn't have that but specializes in something the other one needs, then they will trade. This is why specialization encourages trade.
Why do countries of the world trade goods?
# No country, or almost no country is self-sufficient. # Different parts of the world have specialized in different things. This specialization is a kind of international division of labour and improves efficiency and reduces prices.
What is meant by derived demand and how does this demand characteristic impact freight demand?
Derived demand is the demand to transport goods or services to location depend on demand to consume a goods or services to location. Freight of product is derived from the customer demand of product.
What is concentration on a norrow range of goods and services?
This can be called specialization or "niche" marketing.
What is a labor specialization?
It is a production process which uses division of labour to produce large number of goods at the lowest possible cost that is by dividing labour into the production of a product by giving a specific task so they can concentrate and produce it more accurately.
What is a example of local functional specialization in Switzerland?
Local functional specialization is the concentration of the production of particular goods and service by people in particular places. Examples of local functional specialization in Switzerland are watches, chocolate and cheese,
How can international specialization affect some workers?
With many goods and countries, it means a country has some goods that it does not (and cannot competitively) produce.
