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What term describes the phenomenon where the cost per item decreases as operations are scaled up?
  • a)
    Economies of Scope
  • b)
    Economies of Scale
  • c)
    Diseconomies of Scale
  • d)
    Opportunity Cost
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What term describes the phenomenon where the cost per item decreases a...
Economies of Scale refer to the cost reduction per item when operations are scaled up. This means that as production levels increase, the cost per unit decreases. This concept is essential in understanding how businesses can achieve cost efficiencies by producing goods or services on a larger scale.
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What term describes the phenomenon where the cost per item decreases as operations are scaled up?a)Economies of Scopeb)Economies of Scalec)Diseconomies of Scaled)Opportunity CostCorrect answer is option 'B'. Can you explain this answer? for Grade 7 2025 is part of Grade 7 preparation. The Question and answers have been prepared according to the Grade 7 exam syllabus. Information about What term describes the phenomenon where the cost per item decreases as operations are scaled up?a)Economies of Scopeb)Economies of Scalec)Diseconomies of Scaled)Opportunity CostCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Grade 7 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What term describes the phenomenon where the cost per item decreases as operations are scaled up?a)Economies of Scopeb)Economies of Scalec)Diseconomies of Scaled)Opportunity CostCorrect answer is option 'B'. Can you explain this answer?.
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