Examlex
MATCHING
Match the associated terms. Choices may be used more than once.
-Negative eugenics
Economies of Scale
Reduction in per unit cost as the volume of production increases, due to factors like bulk purchasing and efficient use of resources.
Technological Change
The overall process of invention, innovation, and diffusion of technology or processes.
Returns to Scale
The rate at which output increases in response to proportional increases in all inputs or resources, reflecting the production efficiency of a firm.
Long-Run Average Total Cost
The per unit cost of production in the long run, where all inputs, including capital, are variable.
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