Specialization

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Dictionary Says

Definition of 'Specialization'

A method of  production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas. Many countries specialize in producing the goods and services that are native to their part of the world. This specialization is the basis of global trade as few countries produce enough goods to be completely self-sufficient.
Investopedia Says

Investopedia explains 'Specialization'

Specialization also occurs within the United States, for example, as citrus goods naturally occur in the warmer climate of the South and West, many grain products come from the farms of the Midwest and maple syrup comes from the maple trees of Vermont and New Hampshire.

Specialization can also refer to production, for example when in a factory an assembly line is organized in a specialized manner rather than producing the entire product at one production station.
Search results for

'Specialization'

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    Find out how this demographic has all the needs to keep your firm busy year-round.

  • What Are Economies Of Scale?

    http://www.investopedia.com/articles/03/012703.asp
    ... realized. Adam Smith identified the division of labor and specialization as
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  • What Is International Trade?

    http://www.investopedia.com/articles/03/112503.asp
    ... This is known as specialization in international trade. Let's take a simple example.
    Country A and Country B both produce cotton sweaters and wine. ...

  • Economics Basics: Production Possibility Frontier, Growth ...

    http://www.investopedia.com/university/economics/economics2.asp
    ... C. Trade, Comparative Advantage and Absolute Advantage Specialization and Comparative
    Advantage An economy can focus on producing all of the goods and services ...

  • Macroeconomics: International Trade | Investopedia

    http://www.investopedia.com/university/macroeconomics/macroeconomics11.asp
    ... is inadequate. Two of the key concepts in the economics of international
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  • Is Fastenal Moving Too Fast?

    http://stocks.investopedia.com/stock-analysis/2011/Is-Fastenal-Moving-Too-Fast-FAST-HD-LOW-SSD0418.aspx
    ... The company's specialization has enabled it to differentiate itself from
    superstores like Home Depot (NYSE:HD) and Lowe's (NYSE:LOW). ...

  • How Globalization Affects Developed Countries

    http://www.investopedia.com/articles/economics/10/globalization-developed-countries.asp
    ... Globalization of product and financial markets refers to an increased economic
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  • A Look At CFA Job Opportunities

    http://www.investopedia.com/articles/financial-careers/08/cfa-job-oppurtunity.asp
    ... of MBA programs providing coursework to help candidates with the CFA is an indication
    that the MBA may not provide enough of the specialization necessary to ...

  • Explaining Economies Of Scale

    http://www.investopedia.com/video/play/what-is-economies-of-scale
    Sign In• Register• Free Annual Reports • Free Newsletters. Dictionary;
    Investing; Markets; Personal Finance; Active Trading; Forex; ...

  • Start Your Own Financial Planning Firm

    http://www.investopedia.com/articles/financialcareers/07/start-your-own-firm.asp
    ... Furthermore, the changing demographics in the American population are rapidly opening
    up new areas of specialization, such as long-term care and alternative ...

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