Technical economy of scale

Definition

A reduction in average unit cost because operating on a larger scale allows a business to use more efficient machinery or technology.

Used by AQA

Paper 1, Paper 2

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GCSE Business · key term

A reduction in average unit cost because operating on a larger scale allows a business to use more efficient machinery or technology.

Used by AQA

Paper 1, Paper 2

Create a free account to read GCSE Business revision notes for your exam board and track your progress.