CIE IGCSE ECONOMICS CHAPTER 6 INTERNATIONAL TRADE AND GLOBALIZATION

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CIE IGCSE ECONOMICS CHAPTER 6 International Trade and Globalization

Economics

IGCSE Economics

CIE

International trade and globalisation

Last updated 1:15 AM on 3/31/26

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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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