Returns to scale refer to the change in output when all inputs are increased proportionally, while economies of scale refer to the cost advantages a firm gains as it increases its production levels. Returns to scale can impact a firm's production efficiency by affecting the overall output, while economies of scale can impact a firm's cost structure by reducing the average cost per unit as production increases.
The Structure of Nigeria Economy means, how resources are woned and how Production, Distribution and Consumption are managed in Nigeria.
Economic efficiency is said to be achieved when both the conditions of productive and allocative efficiency are fulfilled. Productive efficiency arises when productin is carried out at lowest cost, i.e, at minimum average cost. On the other hand allocative efficiency arises when resources are allocated to teh production of those goods and services which consumers demand the most. This efficiency arises when price is equal to teh marginal cost of the good or service. Economic efficiency exists in the idealistic perfect market model of perfect competition. However this market structure barely exists. Imperfections exist in all markets. Moreover even if a market is eficient there may be a misallocation of resources which does not give rise to wellbeing of the economy. Hence economic efficiency does not necessarily lead to welfare economics.
The use of the assembly line did not result in a decrease in production costs for all industries. While it significantly increased efficiency and output in manufacturing, some sectors experienced challenges in adapting to the rigid structure of assembly lines. Additionally, it did not eliminate the need for skilled labor entirely; rather, it transformed the nature of work and required different skills.
The average fixed cost is the total fixed costs divided by the quantity of output produced. It represents the cost per unit of production that does not change with the level of output. Fixed costs impact the overall cost structure of a business by influencing the breakeven point and determining the minimum level of production needed to cover these costs. Businesses with high fixed costs may have higher breakeven points and require higher levels of production to achieve profitability.
A business is a social structure of human beings collectively who engage in the production, distribution, or sale of goods or services in an attempt to earn a profit.
Structural Efficiency= Maximum Mass Supported _______________________ (Divided By) Mass of Structure
If you want to find the structural efficiency the equation for structural efficiency is: maxmum mass the structure can withstand divided by the structure mass.
What role do you think organizational structure plays in an organization's efficiency and effectiveness? Explain.
There is not supposed to be a unit. Its just a number. Example: the structure can hold 6kg. the structure is 2kg. The Structural efficiency is 3 (no unit)
No. Capitalism means a tiny class of capitalists own the means of production, most people have to work for wages, and production takes place for sale at a profit. Socialism and Communism are the same: the means of production belong to everyone and production takes place to meet human need.
the difference between an organisational structure and a matrix structure is that a matrix structure is a combined structure whereas an organisational structure is in a vertical order and has different levels.
High structural efficiency is a sign of a strong, relatively light design.
difference between serch data structure and allocation data structure
There does not have to be a difference between a tall organization structure and a flat organization structure. These structures can be the same structure.
the difference is ,a structure is where it is placed and the function is what it daos
the difference is ,a structure is where it is placed and the function is what it daos
the difference is ,a structure is where it is placed and the function is what it daos