Define scale of production
Economics
ScanSolve AI Answer
The scale of production refers to the volume or quantity of goods and services a business produces. It can be categorized as small-scale, where production is limited and often customized, or large-scale, involving mass production with specialized machinery and division of labor.
Was this helpful?
Still stuck on this one?
Ask a follow-up, and the answer starts from this question.
Got a different question?Ask your own question
More Economics Questions
QThe variation in productivity resulting from a proportionate increase in all inputs is referred to…QDefine production, production unit, and state factors determining the size and importance of…QWhat are the charateristics of economics of scaleQ1 The term used to explain the situation where the cost of production decreases as the firm produces…QState the level of production that maches the following occupations