Economies of Scale Are Created by Greater Efficiency of Capital

question 5

Multiple Choice

Economies of scale are created by greater efficiency of capital and by:

• A) longer chains of command in management.
• B) better wages for labor.
• C) smaller plant sizes.
• D) increased specialization of labor.

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Definitions:

Reactants

Chemicals that exist before a reaction takes place, consumed in the process to yield the products.

Catalyst

An agent that boosts the pace of chemical reactions without being permanently altered in the process.

Reaction Rate

The speed at which a chemical reaction occurs, influenced by factors like temperature, concentration, and catalysts.

Speeds Up

Increases the rate or velocity of an object or a process.