Question on: SS1 Economics - Meaning of Scale of Production

The three primary types of scales of production include:

• 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.