specialization

Definitions

Economics

• Producing more than you need of some things, and less of others, hence "specializing" in the first. In international trade, this is just the opposite of self-sufficiency.
• Doing less than everything, as when a country produces fewer different goods than it consumes. In a 2x2 trade model, this means a country produces just one good. With many goods and countries, it means a country has some goods that it does not (and cannot competitively) produce. Also may be called complete specialization.

Nearby Definitions of “specialization”

• Special Theory of Relativity
• specialisation
• specialise
• specialist
• speciality
• specialization
• Specialized Mobile Radio
• species
• specific
• specific factor
• specific factors model

Contexts for “specialization”

2 definitions in context
• Economics