soobintae soobintae
  • 26-02-2021
  • History
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Why is it important for nations to specialize in what they produce?

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greathelpinghand
greathelpinghand greathelpinghand
  • 26-02-2021

Answer: Countries become better at making the product they specialize in. Consumer benefits: Specialization means that the opportunity cost of production is lower, which means that globally more goods are produced and prices are lower. Consumers benefit from these lower prices and greater quantity of goods.

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