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At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise.
Economies of scale refers to the cost advantage arise from increasing amount of production. Mathematically, it is a situation in which the firm can double its output for less than doubling the cost, which brings cost advantages. Usually, economies of scale can be represented in connection with a cost-production elasticity, Ec. [3]
Localization and Urbanization Economies are two types of external economies of scale, or agglomeration economies. External economies of scale result from an increase in the productivity of an entire industry, region, or economy due to factors outside of an individual company. There are three sources of external economies of scale: input sharing ...
Plantation economies are factory-like, industrialised and centralised forms of agriculture, [citation needed] owned by large corporations or affluent owners. Under normal circumstances, plantation economies are not as efficient as small farm holdings, since there is immense difficulty in proper supervision of labour over a large land area.
Economic botany is the study of the relationship between people (individuals and cultures) and plants.Economic botany intersects many fields including established disciplines such as agronomy, anthropology, archaeology, chemistry, economics, ethnobotany, ethnology, forestry, genetic resources, geography, geology, horticulture, medicine, microbiology, nutrition, pharmacognosy, and pharmacology. [1]
Intensive crop farming is a modern industrialized form of crop farming.Intensive crop farming's methods include innovation in agricultural machinery, farming methods, genetic engineering technology, techniques for achieving economies of scale in production, the creation of new markets for consumption, patent protection of genetic information, and global trade.
Research and development (R&D) is a typical example of economies of scope. In R&D economies, unit cost decreases because of the spreading R&D expenses. For example, R&D labs require a minimum number of scientists and researchers whose labour is indivisible. Therefore, when the output of the lab increases, R&D costs per unit may decrease. The ...
Industrial agriculture is a form of modern farming that refers to the industrialized production of crops and animals and animal products like eggs or milk.The methods of industrial agriculture include innovation in agricultural machinery and farming methods, genetic technology, techniques for achieving economies of scale in production, the creation of new markets for consumption, the ...