Specialization leads to increased productivity from "summary" of Basic Economics by Thomas Sowell
When individuals or businesses specialize in what they do best, they can produce more output with the same amount of resources. This is because specialization allows workers to focus on specific tasks that they are skilled at, which in turn leads to increased efficiency and productivity. For example, if a farmer specializes in growing wheat and another farmer specializes in raising cattle, they can each produce more wheat and beef respectively than if they tried to do both tasks themselves. By focusing on their comparative advantage, each farmer can maximize their output and trade with each other to benefit from the other's specialization.
In addition, specialization also allow...
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