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The global economy can have specialization in production because of what?
The international division of labor
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
Why is specialization of labor important?
I used this response for economics...... Specialization is important in the operation of a market because everyone wants thing but in the highest quality for they're usage. A person that makes many things would probably get more business but a specialist would get the most sales from that one item that they can make. These specialist will then be able to sell and trade with other people for the things that they want.
How does specialization affect trade?
because the love people
Why does specialization lead to increased productivity?
Specialization leads to increased productivity because when individuals or businesses focus on a specific task or skill, they can become more efficient and proficient at it. This allows them to produce more output in less time, leading to higher overall productivity. Additionally, specialization enables the division of labor, where different tasks are assigned to different individuals or departments, further streamlining the production process and maximizing efficiency.
Specialization in production is economically beneficial primarily because it?
Specialization allows businesses to charge a higher price for the product. When a product is specialized, customers are will to pay more in order to have access to the upgraded features.
The global economy can have specialization in production because of what?
The international division of labor
Why protein production is important in a cell?
because it is
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
What breed of goat is the meatiest?
boer goats because they are bred and raised primarily for there meat production
Why is specialization of labor important?
I used this response for economics...... Specialization is important in the operation of a market because everyone wants thing but in the highest quality for they're usage. A person that makes many things would probably get more business but a specialist would get the most sales from that one item that they can make. These specialist will then be able to sell and trade with other people for the things that they want.
Why business is important?
Yes, business is important because businesses provide goods, services, and jobs. Without businesses, every family would have to be experts at all facets of life: cooking, mechanical work, farming, surgery, computer manufacturing, video production, ect. Life would not be practical. In conclusion, the importance of businesses in our economy is that that allow specialization of labor. Because business "IS" the economy. Whithout business, there is no economy.Thus, the importance.
Why is specializations important?
Specialization is working on a specific task. Say someone is a fisherman. He would be a specialist in fishing, because that is the job he does to his best ability.
How specialization advantageous?
Specialization is advantageous because a single task can be done in a short time and very well.
Irrigation is important to maintain the production of sudan's most important cash crop?
it is important because i said so............
How important production function to people to the bushiness world?
The production function is very important to the people in the business world. This is because all forms of business rely on production in one way or another.
Why did specialization develop in the new stone age?
Because there was no need for entire settlements to hunt and gather because of domestication of animals (more food) and farming. This left time for gender roles to be established with women in the kitchen cooking, etc.
