Q4) what are the advantages and disadvantages to a firm of operating on a large scale? Economies of scale fall under microeconomics and are the cost advantages a business obtains due to expansion. As scale is increased they cause a producers average cost per unit to fall. Microeconomics (from Greek prefix micro- meaning "small" and "economics") is a branch of economics in which you study the behaviour of how the individual firms make decisions to allocate limited resources. Normally‚ it applies
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ECONOMIES OF SCALE Economies of scale are basically the increase in efficiency of production as the number of goods being produced in a firm increases. Typically‚ a firm that achieves economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Fixed costs are those costs of production that do not change when output changes. There are two types of Economies of Scale: Internal economies External economies Internal
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How To Make Tutus STEP 1. Take measurements. Have the tutu-wearer-to-be stand still‚ with their backs straight. With a measuring tape‚ measure around the waist with a measuring tape. Measure from the waist to the part of the leg where the tutu skirt should end. Most tutus fall between 11 in. (28 cm) (58 cm) from the waist. STEP 2. Make the elastic waistband‚ cut a piece of ½ inches (1.27 cm) elastic about 4 inches (10 cm) shorter than the waist measured. Sew the ends of the elastic together
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it is called a waterspout. Like tornadoes‚ they form in many shapes and often occur in series or families. Measurements of tornadoes can be a few kilometers an hour to as high as 64 to 80 kilometers per hour. We should know what to do before‚ during‚ and after a tornado has hit our town. Tornados cause much damage and we people should be prepared before a tornado‚ during a tornado and what to do after a tornado. Before a tornado‚ we should listen to the radio‚ news and watch for any signs of tornados
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Decision-making is an essential aspect of modern management. It is a primary function of management. A manager’s major job is sound/rational decision-making. He takes hundreds of decisions consciously and subconsciously. Decision-making is the key part of manager’s activities. Decisions are important as they determine both managerial and organizational actions. A decision may be defined as "a course of action which is consciously chosen from among a set of alternatives to achieve a desired result
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WIN – WIN OUTCOME UNDER Appropriate Dispute Resolution (ADR) Prepared by: Yohannes Tesfaye Keleta ID. No. CLG/UD/0109/01 E-mail yohannestesfaye42@yahoo.com Advisor: Zelalem Debebe Submitted:- In fulfillment of the requirements for the L.L.B. Degree at the Faculty of LAW Mekele University November‚ 2013 Acknowledgement I would‚ whole heartedly‚ thank Librarians Behailu‚ Shewaye‚ Zelalem and all staff members at Addis Ababa Law
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Diseconomies of scale A more precise definition is that long run average costs per unit rises with an increase in output.This can b shown in the diagram below: [pic] The rising part of the Long Run Average curve illustrates the effect of diseconomies of scale. Beyond Q1 (ideal firm size)‚ additional production will increase per unit costs. Diseconomies of scale are rarer than economies of scale and they are often offset by economies of scale that exist in the same business. This can make
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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
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Returns to Scale Returns to scale is a concept that tries to explain the behaviour of the output in relation to the change in the total scale of operations of the firm. A change of scale of operations means a change in the total size of the firm‚ i.e. a change in both labour and capital of the firm. For determining the returns to scale‚ we need to calculate the Output Elasticity where: Output Elasticity = % change in Output/% change in all inputs The different types of returns to scales are:
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Selecting a qualitative study Qualitative studies have been conducted in regards to student participation in extracurricular activities in high school and four year universities (Astin‚ 1984; Tinto‚ 1993; Pascarella & Terenzini‚ 2005); however‚ a limited amount of research has been conducted on involvement in extracurricular activities among community college students from minority backgrounds. A qualitative study on the subject will allow the researcher to gain first-hand accounts on students’
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