Examlex
The cost of an intangible asset must be amortized over a 20-year period.
Economies of Scale
Refers to the cost advantage that arises with increased output of a product, where fixed costs are spread out over more units of output.
Economies of Scope
Cost advantages that enterprises obtain due to a broader scope of operations, often through producing a variety of products rather than specializing in just one.
Marginal Products
The extra output obtained by utilizing an additional unit of a specific input while keeping all other inputs unchanged.
Capital-labor Ratio
The ratio of capital (equipment, buildings, etc.) to labor (workforce) in an economic analysis or production process.
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