Question

synergy oil and gas builds oil-well drilling platforms to customer and government specifications. these platforms can cost as much as $1 billion. synergy works on one platform at a time, and when it is finished, moves its crew to a new project. synergy engages in: group of answer choices mass production niche manufacturing individualized production customization specialization

Answer 1

As synergy works on one platform at a time and when it is finished, moves its crew to a new project, thus, synergy engages in a specialization.

What is the meaning of specialization?

In economics, a specialization refers to the method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency. In many countries, people specialize in producing the goods and services that are native to their part of the world and they trade them for other goods and services.

In conclusion, it is therefore the basis of global trade, as few countries have enough production capacity to be completely self-sustaining.

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