Economies of scale are cost reductions that occur when an organization is large or increases production. There are two types: internal and external.
What is global economies of scale? What are the benefits of a command economy? What is herd mentality in economics? What is a pure market economy? What are the basic problems of the economic system? What's the relation between business and a market economy? What is an essential role of ...
Why do command economies fail? Why are economists concerned about inflation? What are the three basic questions faced by every economy? How does a mixed economy help solve economic problems? Why do TV prices continue to fall so much?
Market-based economies, also called free market economies, are self-regulated, allowing goods to be produced and distributed in response to demand from consumers. Command-based economies are regulated by a government body that determines the goods that are produced, their quantities, and their prices...
A command economy, also known as a planned economy, is one in which the central government plans, organizes, and controls all economic activities to maximize social welfare. Command economies, as opposed to free-market economies, do not allow market forces like supply and demand to determine pro...
the government dictates and commands every aspect of the economy. The central government makes decisions about the production of goods and the prices of goods and services, and the government makes all the decisions about the distribution of goods and commodities. Examples of command economies include...
and pricing of goods and services are led by supply and demand from businesses and individuals. As such, a market economy is unplanned and is not part of a planned or command economy where the government dictates all of these factors. Examples of market economies include the United States, Ca...
10. What people believe anout population and resoirces it needs amd its effect on the planetary environment are clearly wrong on the evidence of what has happened. Also what can happen, if progress is preferred to a return to feudal economies the greens plan in the name of irrational fear...
External economies of scale describe factors beyond the control of a company that are present in the same industry and that lead to cost benefits. These factors may be positive or negative industry or economic trends. External economies of scale, therefo
Free Enterprise: Individuals are free to start, operate, and invest in businesses of their choice. This entrepreneurial freedom fosters innovation and economic growth. Specialization: Market economies encourage specialization, where individuals and businesses focus on producing goods and services in which ...