Within any modern economy, there is a high degree of specialisation by firms in the production of complex goods, such as the manufacture of commercial jetliners by aerospace companies like Airbus, Boeing, and Embraer. Each manufacturer employs a highly sophisticated division of labour. For instance, some teams design fuselage aerodynamics, some program advanced avionics, others manage international supply chains, and the physical assembly itself is divided into thousands of micro-tasks.
Evaluate the extent to which specialisation and the division of labour can successfully address the basic economic problem.
35 exam-style questions on OCR A Level Economics Specialisation and trade. Each one has a worked solution and a mark scheme showing where the marks go.