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 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 »

What is the meaning of home economics?

Home economics refers to the study or profession that deals with the economics or management of home life. It is often a subject taught in the school systems.Household SkillsHome economics impleme... Read More »

The Meaning of Fundamental Concepts in Economics?

Economics can be broadly classified into fundamental economics, macro-economics, micro-economics, international economics and personal finance economics. These are also the core ideas that explain ... Read More »

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

Because mean kids are mean kids and call everyone retarded.