ENTREPRENEURSHIP

Detailed explanation-1: -Economies of scale occurs when more units of a good or service can be produced on a larger scale with (on average) fewer input costs.

Detailed explanation-2: -Economies of scale refers to the feature of many production processes in which the per-unit cost of producing a product falls as the scale of production rises. Increasing returns to scale refers to the feature of many production processes in which productivity per unit of labor rises as the scale of production rises.

Detailed explanation-3: -Economies of scale refer to the lowering of per unit costs as a firm grows bigger. Examples of economies of scale include: increased purchasing power, network economies, technical, financial, and infrastructural. When a firm grows too large, it can suffer from the opposite – diseconomies of scale.