IGCSE Economics Practise questions

6.1 International Specialisation

Individual specialization involves individuals focusing on a wide range of occupations and professions to increase their skillset. T / F
Countries can achieve economic growth and competitiveness by relying on their comparative advantage and specializing in specific industries. T / F
Global competitiveness is improved through specialization, as countries can focus on producing goods and services in which they have a comparative advantage. T / F
Specialization can lead to a lack of variety for consumers, resulting in limited product choices and a monotonous market. T / F
Specialisation does not foster innovation and technological advancement as companies tend to neglect research and development in their specialised fields. T / F
Excessive reliance on a few specialized sectors can make a country less vulnerable to economic shocks and changes in global demand. T / F
Improved competitiveness is an advantage of specialisation, as countries can focus on producing goods and services in which they have a comparative advantage. T / F
High labor turnover is a disadvantage of specialization as repetitive and boring jobs may cause increased burnout among workers. T / F

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