11 Explain how 'specialization' can be a result of scarcity for a business.

[Mamoona Hussain]

KN: Businesses specialise in one certain area as they have scarce resources and finance to invest in various projects.
APP: For instance, a farmer may decide to grow only cotton instead of wheat as well due to limited farmland.
AN: Due to this the total production of crops would be limited, both kn variety and quantity, due to which sales would be limited as well, and thus, limited revenue and profit would be earned.

[Areeba Arshad]

[KN] Scarcity means a business can not produce everything with its limited resources, so it must specialize.
[APP] For example, a farm may choose to grow wheat instead of cotton because it can not use the same land for both crops.
[AN] This leads to specialization because the farm focuses it's limited land and resources on the most profitable crop, which allows it to increase efficiency in that area and this improves profitability while giving up the alternative.

[Mamoona Hussain]

KN: Businesses specialise in one certain area as they have scarce resources and finance to invest in various projects.
APP: For instance, a farmer may decide to grow only cotton instead of wheat as well due to limited farmland.
AN: Due to this the total production of crops would be limited, both kn variety and quantity, due to which sales would be limited as well, and thus, limited revenue and profit would be earned.

[Areeba Arshad]

[KN] Scarcity means a business can not produce everything with its limited resources, so it must specialize.
[APP] For example, a farm may choose to grow wheat instead of cotton because it can not use the same land for both crops.
[AN] This leads to specialization because the farm focuses it's limited land and resources on the most profitable crop, which allows it to increase efficiency in that area and this improves profitability while giving up the alternative.

[Ayaan Fayaaz]

[KN]When a business specializes, it focuses its resources on producing a limited range of goods or services, which means it depends heavily on those activities.

[APP]For Instance, if a furniture company only specializes in producing wooden chairs, it may not use its resources for making tables or desks.


[AN]This can create scarcity because resources like labour, raw materials, or machinery are tied up in one type of production. If demand for chairs falls, the business may face shortages of revenue or underused resources, making it harder to meet other potential needs or opportunities

[Abdur Rehman khan]

[KN] Scarcity means a business does not have enough resources to produce everything, rather it should be specialized in one product.
[APP] For example, a farm with limited land may utilize it to grow wheat instead of cotton.
[AN] This leads to business focusing on its limited resources and choosing better option which allows higher returns and reduce wastage leading towards efficiency.

[Arham Qadri]

[KN] Because it cannot produce everything with limited resources
[APP] A farm may decide to grow rice instead of cotton due to high demand in market
[AN] It shows how land can be used efficiently and the reduction of wasteful product as a result the farm company focuses on the products that have high price

[M huzaifa jillani]

(KN)
Scarcity means resources are limited ,so a business cannot do every thing by it self.
(APP)
Because of this , a business may specialize in one product or service ,like a bakery only making cakes instead of all kind of food.
(AN)
This helps the business use its limited resources better , work faster and make higher quality products instead of wasting time and money trying to do too much.

[amaimatif]

Specialization can result from scarcity because a business cannot produce everything with limited resources. For example, a farm may decide to grow wheat instead of cotton to use its land efficiently. This allows the farm to focus on the most profitable crop.

[Haiderabbas]

KN: Specialization can result from scarcity because firms focus resources on tasks they do best to save time and cost. It is also because they cannot produce everythign.
APP; for e.g a bakery might only make bread while outsourcing cakes to save staff training time.
AN; Specialisation boosts efficiency but depends on trade and supply, it's a response to limited resources. It uses its most skilled workers on making bread only.

[SofiaRazaKhan]

[KN] Specialization can occur as a result of scarcity because when a business has limited resources it must concentrate on producing certain goods or services where it has the most skill or advantage.
{APP] a car manufacturer might focus only on producing engines and buy tires and seats from other companies instead of making them itself
[AN] This helps the firm make better use of its limited machinery and workers, improving productivity and lowering costs. however it also means the business becomes reliant on other firms to supply the parts it no longer produces.

[Ruqyia Salman]

[KN] Specialization can result from scarcity because a business cannot produce everything with its limited resources.
[APP] For example, a farm may choose to grow wheat instead of cotton due to limited land and resources.
[AN] This means the farm focuses on the most profitable crop, allowing it to use resources more efficiently and maximize income.

[masabtahir]

[KN] As business cant produce everything so he will choose a single product to produce easily in case of scarcity
[APP] for e.g. if raw material of donuts get expensive and bread cheap in bakery so he will choose bread as the main course of bakery
[AN] This specialisation would make business easy to achieve economies of scale leading to lower cost of production for the bread, against which they can offer better prices in the market to gain more customers, increase revenue & profit margins.

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