Final answer:
An example of specialization in business is a country focusing on a limited variety of products that they become proficient in producing and then trade for needed goods, which is option C.
Step-by-step explanation:
Specialization in business refers to the focus on a specific job, product, or market niche which allows entities to capitalize on their strengths and comparative advantage. An example of specialization in business is C) A country focusing on one or two types of products that they become well known for and are able to trade for the products they need. This aligns with the concept that people and countries will be more effective when concentrating on the production of goods or services where they have distinct skills, talents, geographic advantage, or educational qualifications. For instance, a region with a conducive climate for agriculture may specialize in crop production, while another with a dense population may find success in service industries like dry cleaning or entertainment.
Furthermore, the theory of comparative advantage suggests that countries should specialize in producing goods for which they have a lower opportunity cost compared to others. This leads to a more efficient allocation of global resources and mutually beneficial trade arrangements. As such, specialization can occur on various levels - individual, corporate, or national - and results in a higher level of proficiency and economic gain.