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A method of production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas. Many countries specialize... More »


Specialization (or specialisation) is the separation of tasks within a system. In a multicellular ... Adam Smith described economic specialization in his classic work , The Wealth of Nations. Specialization is when people specialize in one thing or  ...


This specialization is therefore the basis of global trade, as few countries have ... Production efficiency is an economic level at which the economy can no longer ...


Economic theory defines specialization as the production of one or just a few goods and services. In other words, it refers to how an individual, organization, ...


Aug 25, 2015 ... How does one increase productivity? Why do nations focus producing certain goods over others and then trade? These questions are ...


The intensive specialization in industrial societies—the refinement and simplification of tasks (especially associated with a machine technology) so that a worker ...


Specialization. The Basics ... Specialization increases the amount of goods and services that people produce and consume. Examples: ... Playful Economics.


Learn more about benefits of specialization in the Boundless open textbook. Specialization leads to greater economic efficiency and consumer benefits.


Specialisation is when we concentrate on a product or task.


Oct 6, 2016 ... Specialization and trade are the key to economic prosperity argues Arnold Kling in an important new book, Specialization and Trade: A ...