What does it mean for an individual or country to specialize in the production of goods or services

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asked Oct 24, 2022 89.7k views

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Erfan · Answer 1 · 2022-10-28T12:40:48+0000

Answer:

Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency. ... This specialization is thus the basis of global trade, as few countries have enough production capacity to be completely self-sustaining.

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What does it mean for an individual or country to specialize in the production of goods or services

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