Examlex
The CIA exam tests which of the following areas: (i) business analysis and information technology, (ii) conducting the internal audit engagement.
Economies of Scale
Enterprises gain cost benefits from their operation size, as the cost for each unit produced typically drops when the scale enlarges because fixed expenses are distributed across a greater number of output units.
Efficient Scale
The level of production at which a firm can produce its product at the lowest average cost per unit.
Economies of Scale
Economies of scale describe the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.
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