Is the act of limiting the types of goods and services produced.

Question

History

Alana Patrick

13 February, 17:04

Is the act of limiting the types of goods and services produced.

+1

Answers (2)

Know the Answer?

Crystal Kent · Answer 1

Regulating the market, most likely.

Erick Crosby · Answer 2

Specialization

Explanation:

The act of limiting the types of goods and services produced in a particular country is called specialization. The reason why a country might decide to do that is due to the problem of limited resources. The country will most likely want to dedicate the most resources to the industries that are the most profitable, as this would give them the biggest return. In doing so, the country might end up limiting the types of good and services it produces in other industries.