Explain the Market System Specialization
Explain the Market System Specialization?
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1. Division of labor allows workers to specialize.
a. People can take advantage of differences in abilities and skills.
b. People with identical skills may still benefit from specialization and improving certain skills.
c. Specialization saves time involved in shifting from one task to another.
2. Geographic specialization: Regional and international specialization take advantage of localized resources.
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Question Can you describe what the production function for the game looks like? (How are labour, capital and resources combined? Are there constant, increasing or decreasing returns to scale?) Answer Q : Larger amount is actually purchased at Critically evaluate: “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”
Critically evaluate: “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”
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