Specialization increases productivity from "summary" of Principles of Economics by Saifedean Ammous
Specialization refers to individuals or firms focusing on a specific task or activity, rather than trying to do everything themselves. By specializing, individuals can become more efficient and productive in their particular area of expertise. This is because they can develop skills and knowledge that allow them to perform their tasks more quickly and effectively.
Increased specialization can lead to higher levels of productivity because individuals can become more proficient at their specialized tasks over time. As they gain experience and expertise, they can perform their tasks more quickly and with higher quality. This can lead to an increase in output per unit of input, which is a key measure of productivity.
Furthermore, specialization allows for the division of labor, where differen...
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