ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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My choices affect your choices, & vice versa.
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Each person in a task that he / she is good at performing.
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Either A or B
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None of the above
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Detailed explanation-1: -If you have a specialization, that means you focus on a specific aspect of a larger topic. If you’re a nurse, your specialization might be pediatric care, which means you focus on providing care to infants and children.
Detailed explanation-2: -Specialization of labor, or division of labor, occurs when companies divide their production or service process into several set tasks. Employees repeat a single portion of the production process rather than performing multiple tasks themselves.
Detailed explanation-3: -Definition: Job specialization is a process where individuals or employees develop specific skills and expertise to perform certain activities. It involves training the person to excel in a given set of tasks.
Detailed explanation-4: -Labor specialization. Labor specialization is now commonplace in the workplace and is an important part of production. Departmental specialization. Business specialization. Regional specialization. Country specialization. 15-Feb-2021