SPECIALIZATION AND TRADE
When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
At the completion of Grade 4, students should know the following benchmarks for this standard:
Economic specialization occurs when people concentrate their production on fewer kinds of goods and services than they consume.
Division of labor occurs when the production of a good is broken down into numerous separate tasks, with different workers performing each task.
Specialization and division of labor usually increase the productivity of workers.
Greater specialization leads to increasing interdependence among producers and consumers.