719 B
719 B
Agricultural Specialization
Definition
The concentration of agricultural production on specific crops or livestock that are best suited to local conditions, enabled by market integration and transportation improvements. Agricultural specialization increases productivity and economic efficiency.
Source Chapter
Book I, Chapter 11
Context
Smith examines how agricultural specialization, facilitated by market integration, allows regions to focus on their most productive activities and increases overall economic efficiency and productivity.
Economic Domain
Production