ECONOMIES OF SCALE Economies of scale are the cost advantages that a business can achieve by expanding the scale of production. That is‚ when long-run average costs (LRAC) fall. Overhead costs (fixed) are spread over more units produced. Overhead costs (fixed costs) are spread more when more units are produced. These lower costs are an improvement in productive efficiency and can benefit consumers in the form of lower prices. Units produced Total cost Average cost
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Explain why many farmers were dissatisfied with Nazi policies towards agriculture. (12 marks) There were multiple reasons why the farmers in Nazi Germany were dissatisfied by the Nazi policies towards agriculture. This was based upon the fact that the farmers wages had dramatically dropped behind those of the industrial workers. Even though the farmer’s wages had actually increased to 41% between 1933 and 1938
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How Small Groups Can Be Made to Work‚” and “The Hive” shows the ways to properly run a small group and how to get the correct and best results. The two essays also say what to avoid when working in a small group; for example how to avoid group polarization and why that is detrimental to small groups. The essay by James Surowiecki also explains to avoid a type of dictator in the small group‚ someone who is the main mouthpiece to the group and why that is a negative aspect to have in a small group
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Changes in the Government policy What are the main tools that the government manage the economy? The government manage the economy by using the fiscal policy. The Fiscal policy involves the use of government spending‚ taxation and borrowing to affect the level and growth of collective demand‚ output and jobs. Another way the government manage economy is by using the monetary policy. This policy is designed to attempt to influence variables like the balance of payments‚ currency exchange rates‚
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Small is Beautiful The word ‘small’ represents what is minor or of minimum importance but small can also be beautiful. For instance ‘smile’ is a five letter word‚ a small word as you may see it‚ but is of great importance. Smile is a beautiful thing. It brings cheer and happiness in one’s life‚ it helps one to stay fit and healthy not only mentally or emotionally but physically too. Smile brings joy and tenderness in one’s heart amidst various amounts of sorrow‚ tension and turmoil. Not only does
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Economies and Diseconomies of Scale A case for McDonalds & Movie Theaters By Michele Tarrence Econ 202 Economies of scale are defined as ‘forces that reduce a firm’s average cost as scale of operation increases in the long run. The opposite of this would be diseconomies of scale‚ meaning ‘forces that may eventually increase a firms average cost as the scale of operation increases in the long run. Most every company has both the economies and diseconomies of scale that can be analyzed. In
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Intercultural Sensitivity Scale Below is a series of statements concerning intercultural communication. There are no right or wrong answers. Please work quickly and record your first impression by indicating the degree to which you agree or disagree with the statement. This scale should be completed before and after the spring academy. Please fill it in and send it right away. Thank you for your cooperation. |5 = strongly agree |
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The Wechsler Intelligence Scales Overview The Wechsler intelligence scales were developed by Dr. David Wechsler‚ a clinical psychologist with Bellevue Hospital. His initial test‚ the Wechsler-Bellevue Intelligence Scale‚ was published in 1939 and was designed to measure intellectual performance by adults. Wechsler constructed the WBIS based on his observation that‚ at the time‚ existing intelligence tests for adults were merely adaptations of tests for children and had little face validity
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THE SMALL AND MEDIUM ENTERPRISES(SME) IN BANGLADESH: AN OVERVIEW OFTHE CURRENT STATUS Table of Contents: 1.0 The Case for the SMEs.................................................................................................................. 2 2.0 Place of SMEs in the National Economy of Bangladesh................................ 3 3.0 Growth and Structural Transformation of SME................................................... 4 4.0 Constraints to SME Growth....
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Functions of the HQ Unit in the Multi-Business Firm‚” do economies of scale and economies of scope provide cost advantage opportunities to firms? · What considerations would be relevant to a firm’s deciding which strategy (scale or scope) to adopt? · How does the choice of executive focus – strategic planning‚ strategic control‚ financial control – influence HQ functions and approaches in a multi-business firm? In economies of scale lower cost of goods sold by leveraging increased production volume
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