Define Economies of Scale and List Out Its Four Principle

question 68

Essay

Define economies of scale and list out its four principle sources.

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Definitions:

British Government

The central government of the United Kingdom, consisting of the monarch, the Parliament, and the executive, responsible for national policy and administration.

Boers

Descendants of the Dutch-speaking settlers of the Cape Colony in southern Africa during the 17th and 18th centuries, known for their role in the Boer Wars against British rule.

Republic of the Transvaal

A historical 19th-century Boer state in Southern Africa that gained independence from the United Kingdom in 1852 until its annexation after the Second Boer War.

Orange Free State

A historical Boer state in southern Africa that existed from 1854 to 1902, becoming a British colony thereafter.