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Homework answers / question archive / Specialization in production: Decreases total world output Increases total world output Reduces the standards of living Makes a country weak
Specialization in production:
Decreases total world output
Increases total world output
Reduces the standards of living
Makes a country weak
Increases total world output.
Specialization allows economies and individuals to concentrate where they are best talented and have sufficient resources. Inefficiencies and errors are minimized under specialization because individuals or economies exploit their advantages. As a result, the productivity increases.
