This essay has been submitted by a student. This is not an example of the work written by professional essay writers.
Uncategorized

What do we mean by economies of scale?

Pssst… we can write an original essay just for you.

Any subject. Any type of essay. We’ll even meet a 3-hour deadline.

GET YOUR PRICE

writers online

What do we mean by economies of scale?

Economy

An economy can be defined as the organizational system of an industry or trade-in a country or a particular region. It refers to the proper use of money, time and resources to achieve a certain outcome. An economy can be broken down into macroeconomics and microeconomics. Microeconomics focuses on studying the behaviour of a business or a specific individual, whereas macroeconomics focuses on the economy as a whole.

Answer to the Question

Economies of scale can be defined as a state whereby the production of goods or service can be done on a large scale, using less input cost. This means that, as a company grows and advances, its production units get to grow too and stands a better chance to reduce the costs it spends on production. Scale economies are determined by the amount of output produced, the cost per unit of production decreases with a rise in volume

 

 

 

 

 

 

 

  Remember! This is just a sample.

Save time and get your custom paper from our expert writers

 Get started in just 3 minutes
 Sit back relax and leave the writing to us
 Sources and citations are provided
 100% Plagiarism free
error: Content is protected !!
×
Hi, my name is Jenn 👋

In case you can’t find a sample example, our professional writers are ready to help you with writing your own paper. All you need to do is fill out a short form and submit an order

Check Out the Form
Need Help?
Dont be shy to ask