Why do people specialize?

Question

Quizplus · Accepted Answer

Specialization involves individuals devoting themselves to one primary productive activity, which allows them to make the best use of resources. This can lead to increased efficiency and productivity as individuals become experts in their field. As a result, society becomes wealthier and resources are used more effectively. Additionally, specialization often leads to the creation of interdependence and the need for trade, allowing individuals to acquire goods and services they need while avoiding having to produce everything themselves. Finally, specialization involves considering opportunity cost, as individuals must weigh the benefits they receive from one activity against the benefits they could gain from an alternative activity.

Why Do People Specialize