Economics A-Level
Specialisation
What Specialisation means in Economics A-Level, as defined for AQA.
Definitions of Specialisation
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Reference: AQA
Producing the good for which a country has a lower opportunity cost than its trading partner, which with trade increases total global output.
A country focusing on producing the good in which it holds a comparative advantage, then trading at a mutually beneficial exchange rate.
Focusing on producing a narrow range of outputs, which creates a surplus of those specific items but a lack of other necessities.
Producing goods where a country holds a comparative advantage, so that total global production rises.
Occurs when economic agents concentrate on producing specific goods or services.
Topics that use Specialisation
- Specialisation, division of labour and exchange (AQA A-Level)
- Trade (AQA A-Level)
Related terms
- Comparative advantage
- Deadweight welfare loss
- Division of labour
- Economic efficiency
- Economic integration
- Economies of scale
- Export subsidies
- Gains from trade
Using Specialisation in the exam
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