What is economies of scale?
463024
I had a discussion about economies of scale about 3 hours ago.  In business, economies of scale means that in small quantities a number, i.e. profit, can be different than in large quantities.  In fact, in business, as your production increases efficiently (the term efficiently is important), your costs per unit decrease.  You take your overhead, which to a certain degree is fixed over a unit of time (usually a month or quarter is considered).  Then you take the overhead number and spread the cost over your manufactured products over that time.  When you manufacture alot, your overhead per item amount is low.  When you manufacture a few, the opposite occurs.  \n\nThis concept can be used in different disciplines and is largely universal.  Large quantities can be more efficiently produced than small quantities.
757797
One is a country and the other is an economy?
628911
In economics, business, and accounting, a cost is the value of inputs that have been used up to produce something, and hence are not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production.\n\nEffectiveness means the capability of, or success in, achieving a given goal. Contrary to efficiency, the focus of effectiveness is the achievement as such, not the resources spent, so anything that is effective is not necessarily efficient.\n\nAn ordinary way to distinguish between effectiveness and efficiency:\n\neffectiveness: doing the "right" things \nefficiency: doing the things "right"
979105
It would probably help if you posted the definitions.\n\nIn general, though the "scale factor" is usually the the ratio of the size of a copy of an object to the actual size of the object.\n\nAs an example, if you look at a map, they usually say somewhere something like "1 inch = 10 miles".  So if you are trying to find the distance between two cities, and they are 3.5 inches apart on the map, the cities are 3.5 inches x 10 miles/inch = 35 miles apart.\n\nSince the scale factor IS a ratio, I don't understand the second question.
662956
SOMETHING THAT IS COSTLY TO OBTAIN OR MAINTAIN ANDPROVIDES LITTLE BENEFIT OR VALUE
676186
capitalism.\n\nalso the growth of the middle class, or small time capitalists and merchants.
1110391
It is based on mean and standard deviations (statistical stuff). With just the information you gave, it is impossible to tell.\nWe would need to know the mean, standard devaition, and method of calculating scale...but then again if we had all this stuuf you would be able to asnwer your own question, right?
602391
The project cost is fixed capital plus an working capital cycle.The working capital cycle may be the operating cost required for an year/period.In project financing, the scale of finance is determined as the capitalised cost which include fixed assets plus the working capital required for an year or a stipulated period or whichever is appropriate
536653
Isn't that economical majors?
903174
An estimate of what what cost?
242214
The ability of a business to compete with others on the basis of its cost of production is COST COMPETITIVENESS. When a business able of produce goods or services on low cost as compared to its competitors it has competitive advantage over the others.
814383
demand.\n\nok, the price that can be set for a product and the amont of profit that can be made is automatically set by the relationship between how many people want it and how much there is of the product. if demand is high and the suply is low the price will rise and if demand is low and the suply is high the price will fall. stablity is achived when the two are balanced.
894821
You need to ask a more specific answer.  Do you mean area or economic size?  Please ask again, but clearly state your actual question.
1036662
Economics - called the dismal science - studies scarcity of resources on a macro level.  Specific occurrences on a micro level, how an efficient plant operates for example.  Resources have to be managed effectively or they are wasted.  This also includes money.  \n\nSupply and demand is at the core of economics I believe.  Price versus quantity help individual companies decide how much to produce and at what price.  This also includes borrowing which is a staple of capitalism and society, expensive money is expressed in high interest rates.\n\nAs for your other question about the importance of the economy now as opposed to years ago, I don't think so.  It's always been important - the Roman Empire had to deal with inflation.  We just have different circumstances and are much more entwined with other economies.
757162
Capital: Purchase of a machine that makes widgets.\nOperating: The oil to operate the machine.\n\nFixed costs: The cost of a building to house the company, whether it makes 1 item or 1000 items.\nVariable cost: The additional materials it takes to make additional units...make more, more costs, make less, fewer costs.
792762
I'm not sure exactly what you mean.  Economics is a technical discipline by nature.  In its original form economics began as vague explanations of how markets reacted to change.  These theories were more poetic than current economic philosophy.\n\nSome good examples of art in economics could be the management of a theatre.  The example of phantom of the opera is an interesting example.  Build on that premise.  Watch the movie and you will see the change in demand based on the events that unfold.  That one is fairly artzy fartzy and your teacher would probably love it.\n\nhttp://66.102.7.104/search?q=cache:E8FJvWdBNOAJ:johnaugust.com/archives/2005/phantom-of-the-opera+phantom+of+the+opera+economics&hl=en&gl=us&ct=clnk&cd=6\n\nhttp://findarticles.com/p/articles/mi_hb3260/is_200101/ai_n7959819\n\nhttp://www.thenation.com/doc/20020121/hawkes\n\nhttp://ideas.repec.org/p/tcd/tcduee/20007.html
494634
Before making any decision (such as whether to acquire another business, build another plant, hire more people, invest in a new product, etc.), management should weigh the costs (potential risks included) vs. the benefits to be gained (profits).\n\nThus, for example, if you could make $500/unit of some new product that costs $1000 to develop, you would only need to sell 2 units to break even.  If it is feasible to sell 3 or more, according to this cost/benefit analysis, developing the new product is a good business decision. (bad example, but it should illustrate the point)