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1. The specialization is limited by extent or the market. It can only happen if there is longer population
2. Specialization is limited by lack of self interest hired labor.
3. Difficulty in standardizing certain process.
4. Specialization as contrast to diversification.
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What limits specialization in the global economy?
Trade barriers.
What does specialization mean in economics?
it means you're really special from anonymous
The first observation of production which led to the concept of of specialization was in the production of what?
Pins
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
What is the relationship between specialization and trade and changing employment partners?
specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.
What limits specialization in the global economy?
Trade barriers.
What does specialization mean in economics?
it means you're really special from anonymous
The first observation of production which led to the concept of of specialization was in the production of what?
Pins
The first observation of production which led to the concept of specialization was in the production of what?
pins
What are the benefits of production department?
allows specialization
What was the Production Budget for Without Limits?
The Production Budget for Without Limits was $25,000,000.
What is the relationship between specialization and trade and changing employment partners?
specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
What is the concentration of labor on a single task or production operation?
Specialization
What did David Ricardo define economics has?
david ricardo defines economics as the fundamental argument in favor of free trade among countries and of specialization among individuals.
What did Ford production of model T'S demonstrated the economic relationship between specialization and?
greater efficiencies in production.
The global economy can have specialization in production because of what?
The international division of labor
