Specialisation - The process by which individuals, firms, regions and whole economics concentrate on producing those products that they are best at producing., Exchange - The giving up of something that the individual or firm has, in return for something they wish to have but do not possess., Worker specialisation - benefits - Increase skills/job satisfaction/play to strengths, Producer specialisation -> Benefits  - Higher output/productivity/quality > economies of scale , Specialisation regions costs  - Resource exhaustion/Over-dependence, structural unemployment /negative externalities, Scarce resources - When there is an insufficient amount of something to satisfy all wants., Producer specialisation -> Costs  - Costs might increase because of less supply/workers bored/dependency , Worker specialisation  - Boredom/deskilling/machines can do your job , Specialisation countries benefits - Economies of scale/international trade/Government revenue , Specialisation region benefits  - efficient use of resources/lots of jobs/infrastructure , Division of labour - Where workers specialise in, or concentrate on, one area of the production process., Specialisation countries costs  - Over-dependence, structural unemployment /negative externalities,

Specialisation OCR GCSE

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