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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
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1. Explain using examples, the various types of specialisation |
Specialisation between countries: - One place produces what they're most efficient in and another does their most efficient item Specialisation between regions: - ^^^ Specialisation between businesses: - ^^^ Specialisation between individuals: - Division of labour means working on jobs you're best at, gaining experience making even more efficient |
C, r, b, i |
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2. Explain a number of advantages and disadvantages of the Division of Labour |
Advantages: - People like their job - Save time as same equipment; no changing required - More skilled - SEE NOTES Disadvantages: - Jobs become boring - More machinery -> Unemployment - Less transferable skills as only ever done one job |
People choose :) Time = :( Robots > people Higher level |
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3. Explain the four factors of production and name their Rewards |
Capital - interest Entrepreneurship - profit Land - rent Labour - wages/salary |
Cell |
