International Business Study Set 5
Quiz 13: The Strategy of International Business
Cost Savings That Come from Learning by Doing Are Known
Cost savings that come from learning by doing are known as economies of scale.
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Learning effects tend to be more significant when a technologically simple task is repeated.
One of the sources of economies of scale is the ability to spread fixed costs over a large volume.
Moving up the experience curve allows a firm to reduce its cost of creating value and increase its profitability.
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