The correct answer to this open question is the following.
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The statement that best illustrates an example of economic specialization is "A business focuses on producing screens for phones instead of manufacturing the entire phone."
This statement is correct because business specialization tries to focus on producing a very specific element to make it perfect to satisfy the necessities of its clients. Furthermore, companies bet on specialization because in this way they can have fewer competitors in the market, trying to increase the number of sales and the profit.
"A firm concentrates on creating screens for smartphones instead of manufacturing the full phone," says the phrase that best exemplifies economic specialization.
This remark is valid since company specialization aims to concentrate on manufacturing a very particular aspect in order to make it excellent in order to meet the needs of its customers.
Furthermore, businesses want specialization since it allows them to have fewer competition in the market, hence increasing sales and profits.
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