Economies Economies of scale are the reduction in transaction costs per dollar of transaction as the size (scale) of transactions increases.
Economies of scope Economies of scope is the ability to use one resource to provide many different products and services.
Agglomeration economies Agglomeration economies are economies which firms achieve by being located in large urban areas
Economies of Scale Economies of Scale refer to the reduction in per-unit costs achievable by distributing fixed costs over a higher level of production.
Definition
[ pl. ]