AQA AS Economics Unit 1 MindMap

HideShow resource information
  • Created by: ella
  • Created on: 13-01-13 14:03
View mindmap
  • Specialisation and the Division of Labour
    • Specialisation occurs when an individual, a firm, a region or a country concentrates on the production of a limited range of goods and services. It has lead to increases in standards of living and productivity across the world.
    • The Division of Labour is where individuals concentrate on the production of a particular good or service. Production is broken down into a series of tasks, conducted by different workers.
      • Highly skilled workers.
      • Less time is required to train workers for specific tasks.
      • Capital equiptment can be used continuously in production.
      • More choice of jobs for workers.
      • No time is wasted moving from one job to another.
      • Reduced cost per unit.
      • Increased recruitment and selection costs for staff.
      • Easier to replace workers with machinery, which may lead to structural unemployment.
      • Repetition causes monotony and boredom.
      • It creates independance, so if one group of workers go on strike, it could halth the prodcution process across the whole indutry.


No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Competitive markets resources »