What Is the Significance of Possible Increasing Returns to Scale

question 14

Essay

What is the significance of possible increasing returns to scale for our understanding of economic growth?

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Definitions:

Power

Vigor and strength; the force necessary to exert one’s will; a social motive for assuming leadership responsibility. A leader with power has the ability to dominate and control people and events. Sources of power used by leaders include rewards, coercion, legitimacy, and information; types of power include expertise, reference, rational, and charisma.

Interpersonal Relations

Mutual interactions and connections between individuals, often associated with personal or professional relationships.

Communication

The giving and receiving of information; the basis of constructive relationships; the essential requirement for both a humanistic and productive workplace. Types of communication ranked in order of importance to employees include immediate supervisor, small group meetings, information from top executives, policy handbooks, orientation programs, and member newsletters.

Creativity

The ability to generate new and original ideas, solutions, or products.