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Specialization

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n some areas of the market, specialization would be a bad idea as it leads to mass production and the specific good or service does not have a mass market. Division of labour is mostly suited for industries, which need to sell thousands of identical goods every week, such as beef, hamburgers, children's toys, cars, or televisions. Where consumers demand of variety of styles and designs (e.g. jewellery and fashion), production must be in hands of small firms.

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Date: Sun, 21 May 2006 Time: 12:00 AM
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