what is meant by economies of scale?

Open in App

Solution

Dear student,
Economies of scale means the advantages or benefits obtained by a firm from the expansion in production. With the rise in the production the cost per unit falls and the firm benefits.

Suggest Corrections

Similar questions

What is meant by mixed economy ?

What is meant by small scale industries? Explain the three typical characteristics of small scale industries.

Join BYJU'S Learning Program