Question on: JAMB Economics - 2002
The benefits that accrue to a firm as a result of an improvement in the industry it belongs to are called?
A
internal economies of scale
B
economies of scale
C
market economies
D
external economies
Ask EduPadi AI for a detailed answer
Correct Option: D
The benefits that a firm receives from improvements in the industry it's a part of are called external economies of scale. This is because these economies originate from outside the firm.
Add your answer
Please share this, thanks!
No responses