Examlex
Which theory of motivation accounts for the role of curiosity in motivating human behavior?
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.
Long-run Total Costs
The total costs associated with the production of a certain level of output when all inputs can be varied, emphasizing the period in which no costs are fixed.
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