Economies of Scale

question 104

Multiple Choice

Economies of scale

• A) refer to the rising scale on which efficiency improves as a result of cumulative experience and learning.
• B) are the predictable decline in the average cost of producing each unit of output as a production facility gets larger and output increases.
• C) are only relevant to manufacturing industries.
• D) occur due to the presence of abundance resource endowments within a nation.
• E) are difficult to achieve if fixed costs are high.

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Definitions:

Cognitive Gain Model

A theoretical framework that explains how certain interventions or experiences can lead to improvements in cognitive abilities over time.

Assimilation

The process by which a person or group becomes part of another culture by adopting its values and customs.

Accommodation

Adjustments or modifications made to environments or practices to support individuals’ needs, such as in education or workplaces.

Cattell-Horn-Carroll

A comprehensive theory of cognitive abilities that integrates two previously separate theories into a hierarchy of intelligence factors.