Question

In some simple models of trade, a country may choose to specialize in the production of a single good. which is not an argument against specializing in a single good in the real world?

Answer 1

An argument that is not against specializing in a single good in the real world is that specialization in a single good makes dumping easier and more effective.

If a country specializes in a single good, less waste will be produced and it can be dumped easily at one place and can be used or recycled more easily than to dump several different kinds of goods as they will need different technologies and to segregate them will be a hard job to do.

Countries improve their production of the commodity in which they specialize. There are many benefits to consumers if a country does so as specialization lowers the opportunity cost of production, increasing global production and lowering prices. These reduced pricing and increased supply benefit consumers.

To learn more about specialization in single good here

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