In Some Cases, Specialisation Allows Larger Factories to Produce Goods

question 17

True/False

In some cases, specialisation allows larger factories to produce goods at a lower average cost than smaller factories.

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Definitions:

Guarantee

A promise or assurance, typically in writing, that certain conditions will be fulfilled, especially that a product will meet certain quality and performance standards.

Requirement of Writing

A legal principle that certain contracts or agreements must be in written form to be legally valid.

Third-Party Agreement

A legally binding contract that involves a party outside of the two primary entities involved in a transaction or agreement.

Restricting Competition

Practices or agreements that limit free competition in the marketplace, often scrutinized under antitrust or competition laws.