_____________ refer to cost savings that come from learning by doing.
A) Learning effects
B) Exponential effects
C) Ancillary effects
D) Indirect effects
E) R&D effects

Question

Quizplus · Accepted Answer

Learning effects refer to cost savings that come from learning by doing. As workers and firms become more experienced in producing a particular product or service, they develop more efficient processes and gain knowledge that allows them to produce better quality outputs with fewer resources. This leads to cost savings and increased productivity over time.

_____________ Refer to Cost Savings That Come from Learning by Doing