Economies of scope and economies of scale are concepts that explain why costs are often lower for larger companies. Economies of scope focus on the average total cost of the production of a variety of goods. Economies of scale focus on the cost advantage when there's a higher level of ...
Internal economies of scale happen when a company cuts costs internally, so they're unique to that particular firm. This may be the result of the sheer size of a company or because of decisions from the firm's management. There are different kinds of internal economies of scale. These inclu...
What are the differences between Socialism and Capitalism with regard to the ability of firms to fall? What are differentiation and integration, and what is the role of each in organizational structure? What is the difference between economies of scale and the learning curve?
Assume that two different economies both have the same aggregate production function Y=AK^(1/3) L^(2/3). If Economy #1 has 10,000 units of capital and 100 units of labor, and if Economy #2 has 100 units of capital and 10,000 units of labor, then income per worker in Economy #1...
What are the effects of this gap on the price level, real output, and unemployment. Explain. How can an economy reduce its frictional and structural unemployment? What economic models would be likely, if economies were not driven by scarcity? Distinguish between the two types of planned ...
What is the difference between economic profit and economic rent, and how are they related? Surplus Incomes: Firms and factor owners tend to obtain surpluses over their natural source of income. Surplus incomes are obtained after all other deductions of costs and payments ha...
What is the sharing economy? A sharing economy is defined as an economic system in which assets and services are shared between private individuals. It’s used as an umbrella term for many different services, apps, and products. Attila Marton, professor of digitalization at Copenhagen Business Sc...
Unhappy parents rarely are encouraged to wonder if they shouldn’t have had kids, but unhappy childless folks are bothered with the message that children are the single most important thing in the world: obviously their misery must be a direct result of the wide-open baby-size holes in their...
The concept of cohesion has been multifaceted in the literature by Van Well [1] and Davoudi [2]. It is generally defined in relation to economic and social categories, in a regional context. Economic and social cohesion as subcategories of territorial cohesion are defined from different ...
From the perspective of the eastern, central, and western regions, the factors affecting the efficiency of rural ecological environment governance are different due to regional differences. According to the results of empirical analysis, it is proposed that the key issue in improving the efficiency ...