An arrangement in which workers perform only one step or a few steps in a larger production process (as when working on an assembly line).

A situation in which decisions made by one person affect decisions made by other people, or events in one part of the world or sector of the economy affect other parts of the world or other sectors of the economy.

Natural resources, human resources, capital resources and entrepreneurship used to make goods and services.

A situation in which people produce a narrower range of goods and services than they consume. Specialization increases productivity; it also requires trade and increases interdependence.