It means that economic units make the most of their skills by concentrating their expertise on producing specific goods or services
1 of 10
What does specialisation usually lead to?
Increased output per worker because the workforce has a better understanding of their job role
2 of 10
How does specialisation help address the problem of scarcity?
There will be a greater supply of goods and services to meet the unlimited wants
3 of 10
What is the division of labour?
Specialised use of workers within an organisation so they focus on the one part of the production process they are best at
4 of 10
What are the positives of the division of labour?
Improves workfore performance, leads to increase efficiency,cuts down on production costs and assembly lines of increased speed and accuracy
5 of 10
What are the negatives of the division of labour?
Work can become monotonous and therefore the quality of the products may reduce
6 of 10
What are the advantages of specialisation?
Efficient use of time as there is no switching between tasks, technical economies of scale and increased output can then be exchanged for other goods and services that the economic unit is not as good at producing
7 of 10
What are the disadvantages of specialisation?
Small markets cannot afford to introduce specialisation, threat of structural unemployment if an industry goes into decline and reduce flexibility of the workforce
8 of 10
What is efficiency?
Using resources in the most economical way possible
9 of 10
How does specialisation and division of labour increase efficiency?
Because people take less time to complete their tasks at a higher quality if they are experienced in what they are doing
10 of 10
Other cards in this set
Card 2
Front
What does specialisation usually lead to?
Back
Increased output per worker because the workforce has a better understanding of their job role
Card 3
Front
How does specialisation help address the problem of scarcity?
Comments
No comments have yet been made