20 lines
657 B
Markdown
20 lines
657 B
Markdown
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# Market-Based Specialisation
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## Definition
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The pattern of economic organisation where individuals and regions focus on producing specific goods or services based on market demand rather than self-sufficiency. Market-based specialisation requires sufficient market extent to absorb the output of specialists.
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## Source Chapter
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Book I, Chapter 3
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## Context
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Smith's entire chapter demonstrates market-based specialisation, showing how different market sizes support different degrees of specialisation: from subsistence farmers who must do everything themselves, to artisans who can specialise fully in great towns.
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## Economic Domain
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Production
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---
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