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What is an established businesses can produce products more cheaply and quickly than smaller businesses?
Wiki User
∙ 9y ago
t is known as Economics of scale
Wiki User
∙ 9y ago
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How did inventions in the late 1800's affect productivity of businesses?
it allowed business to produce more products in the night time
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
When trying to decide what to produce businesses will look at the demand for their goods.?
When trying to decide what to produce, businesses will look at the demand for their goods.
What is labor specialization?
Specialization of labor is a powerful force in an economy, benefiting small and large businesses alike. Workers produce more when they occupy specialized roles, so businesses can offer higher quality products at lower prices.
When one country can produce a product more cheaply than another country. what can this be called?
When one country can produce a product more cheaply than another country this is called comparative advantage. When one country can produce more goods than another using an equal amount of resources, this is called absolute advantage.
What do you mean by industries?
Businesses that produce products or services at home
Why did the people build factories?
To move out from small workshops and houses into huge buildings where people saw the opportunity to produce products quickly and cheaply. The owners employed people cheaply and the majority were children.
What does mass produce?
to produce a lot of goods cheaply using machines in a factory
How did inventions of the late 1800s affect the productivity of businesses?
it allowed business to produce more products in the night time
What does mass-produce mean?
to produce a lot of goods cheaply using machines in a factory
How did inventions in the late 1800's affect productivity of businesses?
it allowed business to produce more products in the night time
How has expansion of the global market encouraged supply-chaining?
Businesses look for the cheapest, easiest way to produce and deliver products.
When was Pioneer Electronics established?
The company Pioneer electronics was established in 1938, this company has been going for a long time thanks to the good quality of the products they produce.
What type of products do Enclume produce?
The type of products produced by the restaurant "L'Enclume" are modern British meals. The restaurant has 2 Michelin stars and was established in 2003.
What products did Cuba produce that attracted American businesses Was it.... Coffee and Sugar Coffee and Oil Sugar and Tobacco Sugar and Oil?
Coffee and Sugar
How does Sony produce its products?
They produce their products by skill.
What made it possible for henry ford to produce cars quickly and cheaply?
assembly line
