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Explain the disadvantages and advantages of specialization.

What is specialization?
Specialization is a fundamental economic concept that helps explain the
division of labor present within modern economies of scale.
Specialization is the process wherein a company or individual decides to
focus their labor on a specific type of production. In layman’s terms,
specialization means focusing on a specific job. When an individual
specializes, they limit their focus to one specific activity. When a company
specializes, it focuses on a narrow range of goods or services.
Adam Smith, one of the pioneers of economic analysis and modern
economic thought, wrote about specialization in his seminal work, The
Wealth of Nations. Smith argued that specialization within the labor force
was one of the primary contributors to increased productivity.
The advantages and disadvantages of specialization are:
Advantages
Workers become quicker at producing goods(more productive)
An increase in productivity causes the cost ifproduction to decrease (lower
average costs)
Production levels are increased
Specialised workers tend to get higher pay
Workers' specific skills will be improved
More motivation from job satisfaction

Disadvantages
Greater cost of training workers
Quality may suffer if workers become bored by the lack of variety in their
job
More expensive workers
Boredom for the worker as they do the same job everyday
Workers' skills may suffer as they are only doing one job
Workers may eventually be replaced by machinery

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