Examlex
Match the term to its definition by filling in the letter before the term in the appropriate blank.
-____ The process by which individuals transform the meaning of a situation using basic cognitive structures provided by society.
Output
The quantity of goods or services produced in a given period by a firm, industry, or country.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, typically characterized by a reduction in per-unit cost with increasing output.
Specialization
The process by which individuals, firms, or countries focus on producing a certain type of goods or services, often to achieve greater efficiencies or quality.
Diseconomies of Scale
The situation where a company or business grows so large that the costs per unit increase, leading to decreased efficiency.
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