Question
Process by which cost of unit production is reduced
with increase in the units produced, is called?Solution
When more units of a good or a service can be produced on a larger scale, yet with (on average) fewer input costs, economies of scale (ES) are said to be achieved. Economies of scale arise because of the inverse relationship between the quantity produced and per-unit fixed costs; i.e. the greater the quantity of a good produced, the lower the per-unit fixed cost because these costs are spread out over a larger number of goods.
The NISAR satellite, set to be launched in March 2025, is a collaborative project between which two countries?
Hydrogen was discovered by:
Which extinct species was revived using ancient DNA sequencing and gene editing by Colossal Biosciences?
Sir CV Raman was awarded Nobel Prize for his work connected with which of the following phenomenon of radiation?
What is the range capability of India’s first long-range hypersonic missile?
Which of the following contributes to acid rain?
Which gas is responsible for the depletion of the ozone layer?
