What is the meaning of specialization in economics?

Answer In economics, the term specialization refers to people or companies focusing on providing a single good or service, instead of a range of different goods.Comparative AdvantageIf a company is able t... Read More »

Top Q&A For: What is the meaning of specialization in economics

What is the specialization and why there is a need to specialize?

Because mean kids are mean kids and call everyone retarded.

What does"specialization"mean in economics?

In economics, "specialization" refers to the tendency of humans to concentrate their efforts on a particular field or task, while depending on other specialized workers to finish everything else. R... Read More »

A benefit of job specialization?

A specialist requires less thought as he has a smaller range of problems to worry about. This allows him to get very good at a small range of things. ------- A specialist has generally concentrat... Read More »

How to Change Specialization?

Some decisions are crucial, especially if these will define the course for your life. If you are studying a career in education and think that you may have chosen the wrong specialization according... Read More »