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
Premium Economics of production Microeconomics Costs
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
Free Economics Economics of production
in an oligopoly is economies of scale. Economies of scale generally refer to the cost advantages that will be associated with large organizations. Margaretta (2012‚26) suggests that companies pursue economies of scale in the belief that this will be decisive in determining a competitive advantage and increased profitability. Woolworths enjoys significant economies of scale in relation to its competitors. In the supermarket industry‚ benefits of economies of scale is usually achieved by buying products
Premium Supermarket Marketing Economics
Grading Scale 2 Robert Hernandez English 102 Research paper Grading Scale Anyone who has attended a high school or college will readily say that one of the most stressful aspects of the entire experience is grades. Students will loose hours of sleep per night poring over textbooks‚ clutching a pen in one hand and a mug of Starbucks coffee in the other. They soon foster an obsession with achieving and maintaining perfect grades to the point where anything that earns less than "A" is a disgusting
Premium High school Sleep
Economies of scale are the factors that lead to a reduction in average costs as a business increases in size. There are five economies of scale Purchasing Economies When businesses buy large numbers of components‚ for example materials or spare parts‚ they are able to gain discounts for buying in bulk. This reduces the unit cost of each item bought and gives the firm an advantage over smaller businesses which buy in small quantities. Marketing Economies
Premium Business Management Small business
Water Quality Water Quality Criteria are levels of individual pollutants or water quality characteristics‚ or descriptions of conditions of a body of water that‚ if met‚ will generally protect the designated use of the water. For a given DU‚ there are likely to be a number of criteria dealing with different types of conditions‚ as well as levels of specific chemicals... Water quality criteria must be fit the use of water. Only scientific considerations are taken into consideration when determining
Premium Water
Australian Society in 2004/05 National Drug Strategy Monograph Series No. 64. Nowinski‚ J.‚ (1990). Substance Abuse in Adolescents and Young Adults: A Guide to Treatment; New York; W.W. Norton and Company. Nutt‚ D. et al (2007). Development of a Rational Scale to Assess the Harm of Drugs of Potential Misuse; The Lancet 389. Ohene-Konadu K.‚ (2009). Drug Abuse among the Youth. Heyward Reserve Library‚ Centre of Social Policy Studies‚ University of Ghana‚ Legon. Prochaska‚ J.O.‚ Diclemente‚ C.C.‚ and Norcross
Premium Drug addiction Addiction Drug abuse
Establishing evaluation criteria is needed to evaluate alternatives and to make decisions. Depending on the nature of the problem different constraints may be used to design a policy. Once evaluating a clear criterion‚ we must go through a process of identifying alternatives that will later be evaluated in the terms of criteria. Evaluation criteria are grouped in four categories‚ identified by Bardach. For each policy problem‚ we should be able to identify relevant criteria in each category. They
Premium Cost-benefit analysis Costs Cost
The pH Scale is a scale made to show how acidic or alkaline a substance is. The pH of something is measured with pH paper which can vary from wide range paper‚ which covers all ph’s‚ but is not as accurate at some others. There are pH papers that get very specific that can have a range such as 2 or 3 and get much more precise. The neutral on the scale is 7. Anything that is below 7 is considered acidic and anything above 7 is considered alkaline. Acidic substances contain more H+ than OH-. H+
Premium PH Acid Base
EVALUATION OF THE SOFTWARE “LENDING SYSTEM OF AN EMPLOYEES ASSOCIATION: BASIS FOR SYSTEM DEVELOPMENT.” Evaluation Criteria 4 = Outstanding (O) 3 = Good (G) 2 = Satisfactory (S) 1 = Poor (P) User Interaction These criteria cover the user’s interaction with the program‚ the objectives and features of the program‚ and your analysis of it. 4 (O) 3 (G) 2 (S) 1 (P) 1. The purpose of the program is well defined and clearly explained to the user 2. The organization
Premium Computer software Computer Clear