The term scale of operations simply means the size of business operations measured by the business's maximum output.
Posts tagged as “resources”
Having a beautiful, debt-free life created as a result of staying out of debt handcuffs is the actual purpose of saving money. Financial freedom is awesome!
There are not enough of these factors of production in the world. This creates scarcity - not enough goods and services to meet needs and wants of population.
The production process is the process of turning inputs into outputs. Inputs are resources and outputs are final products: goods and services.
What is meant by business activity? Business activity is the process of producing goods and providing services to satisfy consumer demand.