Question

Explain how businesses benefit from specialisation​

Answer 1

Answer:

Specialization Leads to Economies of Scale

Once specialization occurs, resulting in economies of scale, a company is able to reduce the price for its goods or services because it costs less to make their goods or provide their services. This provides a competitive advantage in the market place.

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Answer 2

Answer:

Specialization Leads to Economies of Scale

Once specialization occurs, resulting in economies of scale, a company is able to reduce the price for its goods or services because it costs less to make their goods or provide their services. This provides a competitive advantage in the market place.

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