Meaning of Scale of Production - SS1 Economics Lesson Note

 The scale of production refers to the size and volume of production output of a business, measured by the quantity of goods or services produced in a given period. The scale of production can have a significant impact on a business's costs, profitability, and competitiveness. There are three primary types of scales of production:

• Small-scale production - where businesses produce limited quantities of goods or services with limited resources and a small workforce.

Medium-scale production - where businesses produce a moderate amount of goods or services with more significant resources and a larger workforce.

Large-scale production - where businesses produce a massive amount of goods or services with substantial resources and an extensive workforce.