What is are economies of scale?

The idea that once a company expands, the production costs get proportional smaller to produce each product.

JP
Answered by Jake P. Economics tutor

1319 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

The National Living Wage (NLW) government policy target is to increase the NLW to £9 per hour by 2020. Explain two possible impacts of this policy on the UK supermarket industry.


Explain how rising interest rates affect consumption


Why should the government consider the price elasticity of demand when imposing tax on goods?


What are some main solutions for consumption negative externalities, such as smoking?


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences