how does a specialisation in a particular art or product help a city or town
Answers
Answer:
Specialization means that in our global economy we have many different companies making specific parts that are then acquired by other companies to assemble their products, like cell phones. It can increase the productivity of and provide a comparative advantage for a firm or economy. Microeconomic specialization involves the individual actors and economic components, and macroeconomic specialization involves the broad advantage an economy holds in production.
Answer:
Specialization can increase the productivity of and provide a comparative advantage for a firm or economy. Microeconomic specialization involves the individual actors and economic components, and macroeconomic specialization involves the broad advantage an economy holds in production.