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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.
In economics, an expansion path (also called a scale line [1]) is a path connecting optimal input combinations as the scale of production expands. [2] It is often represented as a curve in a graph with quantities of two inputs, typically physical capital and labor , plotted on the axes.
Network function virtualization defines these terms differently: scaling out/in is the ability to scale by adding/removing resource instances (e.g., virtual machine), whereas scaling up/down is the ability to scale by changing allocated resources (e.g., memory/CPU/storage capacity). [9]
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 ...
Economic expansion and contraction refer to the overall output of all goods and services, while the terms "inflation" and "deflation" refer to rising and falling prices of commodities, goods and services in relation to the value of money. [4] From a microeconomic standpoint, expansion usually means enlarging the scale of a single company or ...
However, some authors recognize that the public sector often uses the business way of scaling to reach impact, leading to disillusionment and doing more harm than good. [3] Sometimes, scaling is seen as a process towards sustainable systems change at scale, where sustainability, systems change and responsible scaling are just as important as ...
Network economics refers to business economics that benefit from the network effect. This is when the value of a good or service increases when others buy the same good or service. Examples are website such as EBay, or iVillage where the community comes together and shares thoughts to help the website become a better business organization.
The iterative proportional fitting procedure (IPF or IPFP, also known as biproportional fitting or biproportion in statistics or economics (input-output analysis, etc.), RAS algorithm [1] in economics, raking in survey statistics, and matrix scaling in computer science) is the operation of finding the fitted matrix which is the closest to an initial matrix but with the row and column totals of ...