Production and Efficiency . Content. Specialisation Division of labour Exchange Production and productivity Economies of Scale Economic Efficiency . Specialisation.
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As workers specialise they become quicker at producing goods, this reduces costs of production
Level of production increases
Workers are able to develop expertise
Increased costs of training workers
May be a decrease in quality as workers are bored by doing the same jobAdvantages and Disadvantages of Specialisation To A Business
Improve their skill level and expertise
Receive more money as they do a more specialised job
Boredom due to monotony of job
Quality of work and skills may suffer due to boredom
Workers could be replaced by machineryAdvantages and Disadvantages of Specialisation to Workers
As a business grows in scale, its costs will fall due to internal economies of scale. An ability to produce units of output more cheaply.
Are those shared by a number of businesses in the same industry in a particular area.