Question

15POINTS PLZ HELP A country focuses on producing those items that it can produce most cheaply and efficiently (based on their natural resources, etc.). This economic practice is known as... Group of answer choices specialization differentiation currency exchange capital investment

Answer 1

Answer:

specialization

Explanation:

• Specialization is an  economic practice in which, an individual, group or state decides to focus its production on specific products.
• This behavior is triggered by a number of factors including the resources available in the country and the production cost of the selected produce.
• In our example above, the country produces items that it uses less capital to efficiently produce, and hence specialization.