Pins
specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.
Specialization
greater efficiencies in production.
The international division of labor
pins
Pins
allows specialization
specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.
Specialization
greater efficiencies in production.
The international division of labor
Economic specialization
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,
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.
Greater efficiencies in production.
Greater efficiencies in production.