What Is an Economy of Scale

question 68

Multiple Choice

What is an economy of scale?

• A)Paying off variable costs as soon as possible
• B)Spreading fixed costs over a large number of units
• C)Introducing products into as many countries as possible
• D)Attracting as many customers as possible
• E)Avoiding finance charges by assuming less debt

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Definitions:

Social Change

Refers to significant alterations over time in behavior patterns and cultural values and norms.

Postmodernism

A broad movement that developed in the mid- to late-20th century across philosophy, the arts, architecture, and criticism, marked by a skepticism towards meta-narratives and ideologies.

Economic Basis

The underlying foundation or the main driving factor of an economy, typically referring to the way in which production, distribution, and exchange of goods and services are organized.

Unifying Features

Characteristics or elements that bring individuals or groups together, creating a sense of solidarity or cohesion.