What is are economies of scale?
The idea that once a company expands, the production costs get proportional smaller to produce each product.
JP
Related Economics GCSE answers
All answers ▸What are some main solutions for consumption negative externalities, such as smoking?
What is an easy way to remember the effects of the exchange rate on imports and exports?
What factors can shift the demand curve in a market?
Analyse how an increase in wages could cause inflation.