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  2. Economies of scope - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scope

    Economies of scope is an economic theory stating that average total cost (ATC) of production decrease as a result of increasing the number of different goods produced. [2] For example, a gas station primarily sells gasoline, but can sell soda, milk, baked goods, etc. and thus achieve economies of scope since with the same facility, each new ...

  3. Economies of scale - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scale

    Economies of scale is related to and can easily be confused with the theoretical economic notion of returns to scale. Where economies of scale refer to a firm's costs, returns to scale describe the relationship between inputs and outputs in a long-run (all inputs variable) production function.

  4. Post-Fordism - Wikipedia

    en.wikipedia.org/wiki/Post-Fordism

    Production became less homogeneous and standardized and more diverse and differentiated as organizations and economies of scale were replaced with organizations and economies of scope. [12] The changes in production with the shift from Fordism to post-Fordism were accompanied by changes in the economy, politics, and prominent ideologies. In the ...

  5. Returns to scale - Wikipedia

    en.wikipedia.org/wiki/Returns_to_scale

    In mainstream microeconomics, the returns to scale faced by a firm are purely technologically imposed and are not influenced by economic decisions or by market conditions (i.e., conclusions about returns to scale are derived from the specific mathematical structure of the production function in isolation). As production scales up, companies can ...

  6. Economic sociology - Wikipedia

    en.wikipedia.org/wiki/Economic_sociology

    Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...

  7. Diseconomies of scale - Wikipedia

    en.wikipedia.org/wiki/Diseconomies_of_scale

    The concept of diseconomies of scale is the opposite of economies of scale. It occurs when economies of scale become dysfunctional for a firm. [1] In business, diseconomies of scale [2] are the features that lead to an increase in average costs as a business grows beyond a certain size.

  8. Economic system - Wikipedia

    en.wikipedia.org/wiki/Economic_system

    An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.

  9. Economics - Wikipedia

    en.wikipedia.org/wiki/Economics

    Robbins' definition eventually became widely accepted by mainstream economists, and found its way into current textbooks. [70] Although far from unanimous, most mainstream economists would accept some version of Robbins' definition, even though many have raised serious objections to the scope and method of economics, emanating from that definition.