The List of the Major Factors That Create Economies of Scale

question 4

Multiple Choice

The list of the major factors that create economies of scale includes all of the following except:

• A)specialization and division of labor.
• B)quantity discounts.
• C)an increase in demand for the firm's output.
• D)the use of automation devices.

Comprehend the principles of market failures, including externalities and inefficiencies.

Differentiate between economic systems (capitalism, socialism, communism) and their approaches to production and distribution.

Recognize the role of government in correcting market failures and providing public goods and services.

Identify the factors that contribute to government failures and their implications.

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