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Summary

Summary specialisation

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Institution
OCR
Module
The Role of Markets








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Written for

Study Level
A/AS Level
Examinator
OCR
Subject
Economics
Unit
The Role of Markets
All documents for this subject (8)

Document information

Uploaded on
July 6, 2022
Number of pages
3
Written in
2021/2022
Type
Summary

Subjects

Content preview

Specialisation :
One firm / individual / country focusing on producing one
good or service
only
completing one task only

Byproduct : One firm focusing on producing one product

By process :
One firm focusing on one part of the production process

Division of Labour Production process being broken down:
into many parts




Barter Systems :
Exchange of goods -1 services in return for other goods +services

is not a medium for
↳
Money exchange

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