Resources committed into the production of relatively few commodities is known as?

By: |Published on: Dec 12|Categories: Commerce JAMB| 0 comments

A. Production
B. Specialization
C. Creation manufacturing
D. Manufacturing

Correct Answer:

Option B – Specialization

Explanation

Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.

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