- published: 17 Nov 2015
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In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe. Video about short run production- https://www.youtube.com/watch?v=xLSRMt-wWAM If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Watch Episodes of Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH More videos about the costs of production- https://www.youtube.com/playlist?list=PLE70CA726102FB294 Check out ...
Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover Andy George's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g Support Wendover Productions on Patreon: http://patreon.com/wendoverproductions Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store? Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video. Youtube: http://www.YouTube.com/WendoverProductions Twitter: http://www.Twitter.com/WendoverPro Email: WendoverPr...
Business students need to be aware of the concept of economies of scale, which enable a business to benefit from lower unit costs as output rises. This revision video explains the concept.
Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017. SUBSCRIBE: http://bit.ly/2dUx6wg LEARN MORE: What Caused The Economic Boom of Wealth? - Learn Liberty (video): Professor Deirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ "Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4 When Jobs Kill Wealth (blog): Profess...
This topic video looks at lots of example of internal economies of scale available to businesses as they expand in the long run. For more help with your A Level / IB Economics, visit tutor2u Economics http://www.tutor2u.net/economics If you find this topic video helpful, please SUBSCRIBE to our YouTube Channel For more help with Economics: Follow tutor2u Economics on Twitter: https://twitter.com/tutor2uEcon https://twitter.com/tutor2uGeoff
When a firm has time to expand or reduce the amount of capital and land it employs in its production, it may find its average, per-unit production costs either rising or falling with the amount of capital it uses. This phenomenon is known as economies of scale (or size). Sometimes, the larger a firm becomes, the more it produces, the lower its average costs of production. On the other hand, it is possible for a firm to become too big for its own good, and experience diseconomies of scale: when producing more output leads to rising average costs. This lesson distinguishes between a firm's short-run average total cost and its long-run average total cost, and explains how economies of scale may help a firm achieve lower average costs as it increases its output in the long-run.
What are economies of scale? In this lesson we will answer this question and look at some ACC's.
Click here: http://www.deytips.com/advanced/expanding-ebay-business/ Let me sell your products or services for you: http://www.proudagent.com Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size. Why is economies of scale important?: In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept ...
The main sources of economies of scale put to music! Economies of scale is defined as the fall in long run average cost as output rises.
Join Bee Business Bee in this Economies of Scale tutorial. Bee looks at the concept of economies and dis-economies of scale and how these impact on how a business operates. More resources can be found online; www.beebusinessbee.co.uk
Managerial Economics; Management; Economies and Diseconomies of Scale | Internal Economies of Scale; Introduction -00:00:00- 00:00:20 What are Economies and Diseconomies of scale? -00:00:21- 00:02:45 *What do these concepts mean for a layman? *Long run cost curve and the concepts Economies of Scale 00:02:46- 00:10:35 *How to divide economies of scale? *Internal economies of scale - Economies in production - Economies in marketing - Managerial economies - Economies in transport and storage *What are the characteristics of the each of these varieties of internal economies of scale? *External economies of scale - Large scale purchase of raw materials - Large-scale acquisition of external finance - Massive advertisement campaigns - Large scale hiring of transport and w...
This lesson goes over the economies of scale. The economies of scale examines the relationship between cost and output in both the short run and long run. The economies of scale shows that when costs are low productivity will be high. The diseconomies of scale shows that costs will rise when output increases because of the law of diminishing marginal returns. Constant returns to scale shows that all costs vary and eventually become constant or fixed in the long run.
What are ECONOMIES OF SCALE? What do ECONOMIES OF SCALE mean? ECONOMIES OF SCALE meaning - ECONOMIES OF SCALE definition - ECONOMIES OF SCALE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In microeconomics, economies of scale are the cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output. Often operational efficiency is also greater with increasing scale, leading to lower variable cost as well. Economies of scale apply to a variety of organizational and business situations and at various levels, such as a business or manufacturing unit, plant or an entire enterpri...
Learn more: http://www.policonomics.com/economies-of-scale/ This video explains how economies of scale affect production. We start by explaining how the average cost curve defines when economies of scale appear, and then analyse the difference between economies and diseconomies of scale. Related videos: -Returns to scale: https://www.youtube.com/watch?v=A5E1sOYh6No&list=PLr3ti8G3MCupcsVLkr7ayC_ziNbi9l4De&index=1 -Fixed and variable costs: https://www.youtube.com/watch?v=vMYG3QFovFA&index=1&list=PLr3ti8G3MCuokrpRv_PZETQFCLj6zkKv1 Related articles: -Natural monopolies: http://www.policonomics.com/natural-monopoly/ -Returns to scale: http://www.policonomics.com/returns-to-scale/ Thank you for watching! http://www.policonomics.com Learn, and enjoy!
Long Run Costs, Economies of Scale and Returns to Scale = How to draw the Long Run Costs, Economies of Scale and Returns to Scale diagram Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/groups/kcbusinesseconomics/?ref=bookmarks Theory Video (Long Run Costs and Returns to Scale): https://www.youtube.com/watch?v=AumdiW0DlTg Theory Video (Economies of Scale): https://www.youtube.com/watch?v=4YB4mxdmMi0
In this short revision video we focus on examples of external economies of scale - i.e. the reductions in unit costs for businesses who benefit from an expansion of their industry. For more help with your A Level / IB Economics, visit tutor2u Economics http://www.tutor2u.net/economics If you find this topic video helpful, please SUBSCRIBE to our YouTube Channel For more help with Economics: Follow tutor2u Economics on Twitter: https://twitter.com/tutor2uEcon https://twitter.com/tutor2uGeoff
For business studies students. Explores the types of diseconomies of scale that can arise: such as co-ordination and control.
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A2/IB 6) Economies and Diseconomies of Scale - An understanding of the different types of economies of scale and diseconomies of scal a firm can experience in the long run with evaluation