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What is the economies of scale?
Internal economies of scale arise when the cost per unit
What is internal economy of scale?
The difference between internal economy of scale and external economy of scale is that internal economies of scale come from within the business ; external economies come from or affect the world outside the business.
What are the sources of economies of scale?
The economies of scale attainable from large scale production fall into two categories. Internal and External.
Explain 6 major sources of internal economies of scale?
6 major sources of internal economies of scale are bulk buying, practical scale, processing, real world, these are some of the steps.
What are the differences between internal and external economies of scale?
AnswerEconomies of scal occurs when there is an increase in output as cost decreases. This means, as a company will have a better chance to decrease its costs. There are two ways of achieving this, internal and external economies of scale. Internal economies of scale occurs due to the change in size of an individual firm and are not dependant on the industry as a whole. This can be achieved in two ways. 1) Firm level 2) Plant level.External economies of scale occurs due to a growth in the industry as a whole. The individual firms need not grow, however the entire industry around them does.
What is the economies of scale?
Internal economies of scale arise when the cost per unit
What is internal economy of scale?
The difference between internal economy of scale and external economy of scale is that internal economies of scale come from within the business ; external economies come from or affect the world outside the business.
What are the sources of economies of scale?
The economies of scale attainable from large scale production fall into two categories. Internal and External.
Explain 6 major sources of internal economies of scale?
6 major sources of internal economies of scale are bulk buying, practical scale, processing, real world, these are some of the steps.
What are the differences between internal and external economies of scale?
AnswerEconomies of scal occurs when there is an increase in output as cost decreases. This means, as a company will have a better chance to decrease its costs. There are two ways of achieving this, internal and external economies of scale. Internal economies of scale occurs due to the change in size of an individual firm and are not dependant on the industry as a whole. This can be achieved in two ways. 1) Firm level 2) Plant level.External economies of scale occurs due to a growth in the industry as a whole. The individual firms need not grow, however the entire industry around them does.
How can the nnpc achieve internal economies of scale?
The Nigerian National Petroleum Corporation (NNPC) can achieve internal economies of scale by increasing the scale of its operations to lower its average cost per unit. This can be done by consolidating its operations, standardizing processes, and utilizing resources more efficiently. By optimizing its production processes, investing in technology, and streamlining its supply chain management, the NNPC can benefit from economies of scale and improve its overall efficiency and competitiveness in the industry.
Of what significance is economies of scale in planning the establishment of commercial enterprise?
OF WHAT SIGNIFICANCE IS ECONOMIES OF SCALE IN THE ESTABLISHMENT OF COMMERCIAL ENTERPRISE?. economies of scale
What is the definition of classical theory of production?
The definition of the classical theory of production is defined by Adam Smith and involves 3 factors of production; land, labor, and capital. With the passage of time the size of the market will increase, which will lead to both internal and external economies of scale, which will eventually lower down the cost of production.
What is economic of sales?
Economies of scale are factors which cause the average cost of production to decrease as the volume of its output is increased. It has two types: the internal and external factors.
Define economies of scale How does this relate to returns to scale Cite and briefly discuss the main determinants of economies of scale?
Cite and briefly discuss the main determinants of economies of scale.
What does the writer mean by diseconomies of sale?
Not profiting from economies of scale, because there are no economies of scale. That is meant by diseconomies of scale.
Equilibrium and economies scale in market economy?
Equilibrium and economies scale in market economy
