Archive for the ‘Economics’ Category
Sunday, May 18th, 2008
In economics, returns to scale and economies of scale are terms that are related and sometimes incorrectly used interchangeably. They describe what happens as the scale of production increases.
Economies of scale and diseconomies of scale refer to an economic property of production that affects cost if quantity of all input ...
Posted in Economics, Micro Economics | No Comments »
Thursday, May 8th, 2008
In economics, it is often common to use the word "rationing" to refer to one of the roles that prices play in markets, while rationing (as the word is usually used) is called "non-price rationing." Using prices to ration means that those with the most money (or other assets) and ...
Posted in Economics, Micro Economics | No Comments »
Thursday, May 1st, 2008
Economies of scope are conceptually similar to Economies of scale. Whereas economies of scale primarily refer to efficiencies associated with supply-side changes, such as increasing or decreasing the scale of production, of a single product type, economies of scope refer to efficiencies primarily associated with demand-side changes, such as increasing ...
Posted in Business, Economics, Micro Economics | No Comments »
