CIE IGCSE ECONOMICS CHAPTER 6 INTERNATIONAL TRADE AND GLOBALIZATION
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CIE IGCSE ECONOMICS CHAPTER 6 International Trade and Globalization
Last updated 1:15 AM on 3/31/26
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4 Terms
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What does specialization mean for 4 main types of things that can specialize?
Individuals-Specific jobs, training, and education makes people more efficient
Firms-specific services and goods
Regions-Specific networks such as Silicon Valley
Countries-Concentration on specific industries
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Why do nations specialize?
-optimal use of resources in an economy
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What are the advantages of specializing for a country?
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