O Level Economics Specialization

the concentration on particular products or tasks can be termed as :

• Division of Labor

• Specialization

• Efficiency

The key advantage claimed for specialization of workers is:

• Lower Total Cost

• Lower cost per unit

• Lower Fixed Costs

• Higher Revenue per unit

Specialization may

• reduce the time required for one worker to move between tasks

• increase the number of work related injuries

• increase the range of skills on the workers

Specialization at lower-demanding jobs may result in the long run in

• increased labor turnover

• reduction in absenteeism

• strong career growth

Whether division of labour will benefit an economy will depend on:

Explain two disadvantages of specialization