______ is the result of low-cost producers focusing all their efforts on producing a single good or service. (Use one word for the blank.)

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robert7248 robert7248

12-07-2022
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______ is the result of low-cost producers focusing all their efforts on producing a single good or service. (Use one word for the blank.)

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-07-18T17:18:16+02:00

Specialization is the result of low-cost producers focusing all their efforts on producing a single good or service. This is further explained below.

What is Specialization ?

Generally, the process of focusing on and developing expertise in a specific topic or ability.

In conclusion, Low-cost manufacturers specialize when they concentrate all of their efforts on providing a particular commodity or service.