What is specialisation in Economics?
Producing a variety of goods and services
Focusing on a single economic activity or task
Trade with foreign countries
Eliminating all forms of competition
Did this page help you?
What is specialisation in Economics?
Producing a variety of goods and services
Focusing on a single economic activity or task
Trade with foreign countries
Eliminating all forms of competition
Did this page help you?
What is one advantage of specialisation in an economy?
Increased variety of products
Slower economic growth
Reduced efficiency
Higher productivity
Did this page help you?
Bangladesh specialises in textiles and exports them to the world.
Which of the following is not an advantage of national specialisation?
Over-dependency on other countries' resources
Greater competition may increase productivity
Increased exports can result in economic growth
Economies of scale
Did this page help you?
The two main factors which allow a country to specialise are:
| Factor 1 | Factor 2 |
A | More expensive production methods | Limited resource availability |
B | Superior resource availability | New production methods |
C | More expensive production methods | Superior resource availability |
D | Superior resource availability | Cheaper production methods |
Did this page help you?
How does specialisation affect quality?
Lower quality goods and services
No impact on the quality of goods
Higher quality goods and services
Decreased demand for goods
Did this page help you?
What is most likely to discourage international specialisation and trade for an economy?
decreasing labour supply
decreasing transport costs
increasing oil prices
increasing trade barriers
Did this page help you?
What role do cheaper production methods play in enhancing competitiveness?
They increase costs and reduce competitiveness
They have no impact on competitiveness
They decrease the quality of goods produced
They help reduce costs and improve competitiveness
Did this page help you?
Which of the following is a potential disadvantage of national specialisation?
Increased efficiency and productivity
Reduced dependence on global markets
Vulnerability to changes in global demand
More economic diversification
Did this page help you?
What benefit might a country gain from being a global leader in a specific industry?
Reduced international competition
Increased dependence on multiple industries
Greater bargaining power in trade negotiations
Greater risk of economic shocks
Did this page help you?
How can national specialisation contribute to increased efficiency?
By spreading resources across various industries
By focusing on producing a limited range of goods
By reducing the overall production volume
By increasing economic inequality
Did this page help you?
The table shows the rice yield in four countries.
country | rice yield (kilos per hectare) |
Japan China Bangladesh Thailand | 64 53 20 20 |
What may be concluded from this information?
Bangladesh and Thailand produce the same amount of rice.
Japan produces more than three times as much rice as Bangladesh.
Japan produces the largest amount of rice per hectare.
Japan produces the largest amount of rice per person employed.
Did this page help you?
Country X specialises in ceramic products.
What challenge might it face if its specialised industry becomes obsolete due to technological advancements in other countries?
Enhanced adaptability to changing market conditions
Reduced dependency on the specialised industry
Difficulty in transitioning its workforce to new sectors
Improved global competitive advantage
Did this page help you?
How might national specialisation affect a country's workforce skills?
Increase the diversity of skills among workers
Foster a broad range of transferable skills
Lead to a narrow focus on industry-specific skills
Enhance overall employability in various sectors
Did this page help you?
A country has limited availability of certain natural resources.
How might this influence its choice of industries for national specialisation?
It would encourage diversification across industries
It might lead to overreliance on sectors which use these resources
It would lead to equal distribution of resources across sectors
It could promote a balanced approach to economic development
Did this page help you?
What is the primary characteristic of regional specialisation?
Producing a single type of good for both domestic and international markets
Focusing on producing goods that utilise advanced technology
Producing goods that cater exclusively to local market demands
Engaging in trade activities between regions of a country
Did this page help you?