diversification

Everyday

1. The act of making something more varied by adding different kinds of things. tree →
2. (money, business) Spreading money, work or products across many different areas to reduce risk. tree →

In the lessons

In geography and economics, a farm or town that relies on one product may need diversification; in science, the diversification of species means new kinds evolving over time; phrases: «diversification of crops», «diversification of the economy».

Examples

• Diversification helped the farm survive when wheat prices fell. tree →
• The town's diversification brought new jobs in tourism and technology. tree →
• Scientists study the diversification of dinosaurs. tree →
• Diversification means not putting all your eggs in one basket. tree →
• The museum's diversification included new art and science rooms. tree →
• Crop diversification protects farmers from bad weather. tree →

Note

Uncountable, formal. Verb: diversify. In money: diversification lowers risk because if one thing loses value, others may not.