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BBC Bitesize, [1] also abbreviated to Bitesize, is the BBC's free online study support resource for school-age pupils in the United Kingdom. It is designed to aid pupils in both schoolwork and, for older pupils, exams .
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of cost (production cost) . A decrease in cost per unit of output enables an increase in scale that is, increased production with lowered cost. [1]
In August 2018, Ofqual announced that it had intervened to adjust the GCSE Science grade boundaries for students who had taken the "higher tier" paper in its new double award science exams and performed poorly, due to an excessive number of students in danger of receiving a grade of "U" or "unclassified".
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]
Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...
The main reason for the increasing returns to scale is the increase in production efficiency due to the expansion of the firm's production scale. A firm's production function could exhibit different types of returns to scale in different ranges of output. Typically, there could be increasing returns at relatively low output levels, decreasing ...
The BBC found that 50% of people believed that economic globalization was proceeding too rapidly, while 35% believed it was proceeding too slowly. [ 156 ] In 2004, Philip Gordon stated that "a clear majority of Europeans believe that globalization can enrich their lives, while believing the European Union can help them take advantage of ...
A study in 2007 found that more than 1.2 billion people live in areas of physical water scarcity. [20] This water scarcity relates to water available for food production, rather than for drinking water which is a much smaller amount. [3] [21] Some academics favour adding a third type which would be called ecological water scarcity. [19]