Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
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Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
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my life. They have brought me up to be a confident‚ honest‚ independent person and I believe that what they have taught me and what we have been through has shaped me into what I have become today. The media also plays a big part on everyones life including mine. People these days are defined and grouped by how they look‚ act and dress. I think that this is all because of what people say in the media‚ books‚ and magazines. This has an affect on me because it influences me on what I should wear‚ eat
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non-smokers of the same age. Lung function continues to worsen as long as the person smokes‚ but it may take years for the problem to become noticeable enough for lung disease to be diagnosed. Smoking causes many lung diseases that can be nearly as bad as lung cancer. Chronic obstructive pulmonary disease (COPD) is a name for long-term lung disease which includes both chronic bronchitis and emphysema. COPD most often starts unnoticed in young smokers‚ and usually gets far worse before it’s diagnosed
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a general conclusion that war actually benefits the economy. Through decreasing unemployment by creating jobs as well as allowing those now employed to spend in the retail sector‚ it may seem as though war is an economic necessity to bring countries out of economic depression. This economic cycle of employment and spending may seem to benefit the economy as a whole‚ however in reality there is a much different truth to how war effects the economy of every country involved. By preparing for war a country
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OR 97301 Dear Mr. Brown My name is Sydney Van Steenberge and I am currently enrolled as a student at Perrydale High School. I am writing this letter to propose a change in our current economy. My belief is that by adopting a market economy our country will thrive and grow stronger. By having a free market economy‚ buyers are free to purchase anything in which they like and however much of that product they want. The seller of the product can also produce whatever they want and also increase the
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The economy of Japan is the world’s second largest developed country‚ the third largest by nominal GDP and the forth largest in terms of purchasing power parity. Japan relies on its comparative advantage in high-end technology‚ research and development to drive its economy. Since the end of World War II Japan’s economy has grown at a unseen rate‚ propelling it from that of a war torn empire to that of one of the most technologically advanced nations in the world. Unfortunately the meteoric growth
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the Desk of the Author 22 Indian Economy : A Few Facts : At a Glance 29 Important Facts Related to Indian Economy National Income of India 90 Concepts of National Income 91 Methods of Measuring National Income 91 CSO Releases National Income-Related Estimates for 2009-10 and 2010-11 92 PMEAC’s Review of the Economy 2010-11 93 Estimates of National Income in India Some Aspects of Indian Economy 72 Underdeveloped Country 72 Salient Features of Indian Economy 73 Important Infrastructural Components
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Economy of Turkey About Turkey – Turkey is a vibrant amalgamation of two unique cultures‚ reflecting a diverse collection of ideas‚ beliefs and values. Crossing both European and Middle Eastern boundaries‚ Turkish society is patriotic and proud of its ancestry and achievements. The rapid modernisation of the country‚ combined with its traditional values‚ makes Turkey a fascinating market for foreign businesses but requires an understanding of its cultural design in order to secure your future
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Breaking bad Walter White‚ the lead character of breaking bad‚ has faced a tremendous problem in his life that has induced a giant smother pillow of stress‚ as for all others who befall the disease; terminal lung cancer. Walter‚ aware of his serious financial constraints‚ connects with a former student‚ Jesse Pinkman in order to provide a stable life for his family after he passes away. He has been put under these circumstances due to a decision to sell his former partners now Fortune 500 company
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