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Specilisation by product-people doing what they do best in return for money.eg.doctors,lawyers
Specilisation by process-organizing production into many stages and assigning workers to each stage.This specilisation usually takes place in factories .eg. the making of soft-drinks.
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Which form of business requires the least specialization of skills?
corporation
What type of business organization has the advantage of specialization but the disadvantage of unlimited liability?
A sole proprietorship has the advantage of specialization, as the owner can focus on their specific skills and interests to drive the business. However, it also carries the disadvantage of unlimited liability, meaning the owner is personally responsible for all debts and obligations of the business, which can put their personal assets at risk. This structure is often favored for its simplicity and direct control, but the potential financial risk is a significant drawback.
what type of grant can a business get ?
what type of grant can a small business get
Type of linkages derived from business?
state the type of linkage to be derived from the business.
What type of business is a hospital?
is a hospital a business
Which of he following is an advantage of a partnership?
The responsibility for the business is shared
Which form of business requires the least specialization of skills.?
corporation
What form of business requires the least of specialization of skills?
Corporation.
Which form of business requires the least specialization of skills?
corporation
What theory identifies specialization as a reason for international business?
comparative advantage
What does regional specialization mean?
Regional Specialization is a type of cheese that never expires. It could be deadly and found in your region.
What are the theory identifies specialization as a reason for international business?
theory of comparative advantage.
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
What type of business organization has the advantage of specialization but the disadvantage of unlimited liability?
A sole proprietorship has the advantage of specialization, as the owner can focus on their specific skills and interests to drive the business. However, it also carries the disadvantage of unlimited liability, meaning the owner is personally responsible for all debts and obligations of the business, which can put their personal assets at risk. This structure is often favored for its simplicity and direct control, but the potential financial risk is a significant drawback.
What is a business doing when it concentrates on goods or services that it can produce better than anyone?
specialization
What type of practice encourages trade between countries?
Specialization
What best illustrates specialization?
In business courses that begin to discuss specialization they often begin by discussing the advent of automobile factories. This is often thought of as one of the first major experiences of manufacturing work specialization where the division of labor and tasks were highly specialized.
