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Internal and external economies of scale:
Internal economies of scale are the advantages or benefits that the firm enjoys as it expands its size or increases its scale of operation. These may result from technical, financial, managerial, marketing and welfare advantages enjoyed by the firm and are as such said to be firm specific. External economies of scale on the other hand, are advantages or benefits gained by a firm, as the industry in which it operates grows larger.An industry grows when the number of firms constituting the industry increases. These advantages are in the form of availability of cheaper inputs like skilled labour, common services and research.
Economic Growth: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income. A country is said to experience econo
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Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
LANTHENOIDS
Estimating the Educational Structure of the Labour Force in the Economy for the Target Year The educational levels of persons within each occupational structure for the base y
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Services and goods that are used for their ultimate end purpose, meeting some human desire orneed. Consumption may include private consumption (by individuals, financed from their
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
Australians are turning to scooters to combat escalating petrol prices. After a slump in the March quarter this year, demand for scooters was up by more than 7 per cent in the firs
1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. 2) A) Why would y
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