Examlex
Place the following events of human early development in the correct order.
Natural Monopoly
A market condition where a single firm can supply the entire market's demand for a good or service more efficiently than multiple competing firms due to high fixed or startup costs associated with the industry.
Economies of Scale
The cost advantage achieved by an increase in production, leading to a reduction in the per unit cost.
Capital Facilities
Assets such as buildings, utilities, and major machinery which are essential for the production process in an organization or for providing services.
Laissez-faire Perspective
An economic philosophy advocating for minimal government intervention in the market, allowing individuals to act according to their own self-interests.
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