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The ability to produce a product or service at a better cost is called increase productivity. The United States of America leads the world in productivity.

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βˆ™ 10y ago
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βˆ™ 5mo ago

Economies of scale refer to the cost advantages that result from larger production volumes. This occurs when the average cost of production decreases as a firm produces more units. As a company increases its scale of operations, it can benefit from cost savings in areas such as raw materials, equipment, and distribution.

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Q: What is The ability to produce more cheaply?
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When one country can produce a product more cheaply than another country. what can this be called?

When one country can produce a product more cheaply than another country this is called comparative advantage. When one country can produce more goods than another using an equal amount of resources, this is called absolute advantage.


When one country can produce a product more cheaply than another country can this is called?

comparative advantage


When one country can produce a product more cheaply than another country can this is called a?

comparative advantage


What does mass produce?

to produce a lot of goods cheaply using machines in a factory


What made it possible for factories in early American history to produce goods more quickly and cheaply?

Child labor was introduced


What is an established businesses can produce products more cheaply and quickly than smaller businesses?

t is known as Economics of scale


What does mass-produce mean?

to produce a lot of goods cheaply using machines in a factory


What is a large company's ability to take advantage of economies of scale?

The company can offer goods more cheaply than smaller retailers


Which of the following results from a large company's ability to take advantage of economies of a scale?

The company can offer goods more cheaply than smaller retailers.


Why did the people build factories?

To move out from small workshops and houses into huge buildings where people saw the opportunity to produce products quickly and cheaply. The owners employed people cheaply and the majority were children.


What is the measure ability to survive and produce more offspring relative to other members of the population called?

Fitness is a term that is used to measure the ability to survive and produce the most offspring.


Which characteristic is more frequently dominant in Paleolithic sculptures of women?

ability to produce children