3 years ago

Focusing on a narrow range of products/services that can be produced most

History

1 answer:

AveGali [126]3 years ago

7 0

Answer: Specialization

Explanation:

Focusing on a narrow range of products or services that can be produced most efficiently and cost-effectively is referred to as specialization.

Specialization simply refers to a method whereby an economic agent focuses on the goods that it can only produce efficiently and also minimize cost for. This helps in the production of more goods and also improvement in revenue.

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