Specialization:
A)leads to greater self-sufficiency and less trade.
B)can lead to an increase in overall production and trade.
C)is always the result of an inefficient use of resources.
D)allows workers to develop skills by working on a large number of tasks.
E)allows firms to produce different varieties of products.

Question

Quizplus · Accepted Answer

Specialization allows workers to focus on a particular task and improve their efficiency, which can lead to an overall increase in production. This increase in production can then be traded with other specialized workers or firms, leading to greater trade opportunities.