Economies of scale
Economies of scale
Glossary of business
Definition of economies of scale
An economy of scale is where average cost falls as production increases. Economies of scale are happening because larger firms are able to lower their unit costs. This may happen for a variety of reasons. A larger firm may be able to buy in bulk, it may be able to produce relatively more efficiently, it may be able to raise finance cheaper and it may have access to more efficient marketing methods.
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Terminology about business
Job world
Definition and meaning of economies of scale
Meaning of economies of scale
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