Economies and diseconomies of scale

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Celebrating the learning: sOME FANTASTIC EXAMPLES OF LAST WEEKS LEARNING ON THE SIZE AND GROWTH OF FIRMS...

Supreme

Growth Timeline

The growth of Starbucks

Made with Padlet

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Week 4: ECONOMIES AND DISECONOMIES OF SCALE

WHAT: ECONOMIES AND DISECONOMIES OF SCALE
HOW: ANALYSE HOW INTERNAL AND EXTERNAL ECONOMIES OF SCALE AND DISECONOMIES OF SCALE CAN AFFECT A FIRM OR AN INDUSTRY AS ITS SCALE OF PRODUCTION CHANGES
WHY: BECAUSE IT IS IMPORTANT TO KNOW THAT IN THE WORLD OF BUSINESS, BIG IS OFTEN MORE EFFICIENT AS BIG FIRMS ARE LIKELY TO HAVE LOWER AVERAGE COSTS AND THEREFORE BIG FIRMS ARE LIKELY TO HAVE ADVANTAGES ON PRICE OVER SMALLER FIRMS
INTRODUCTION: As a firm grows in size it is able to benefit from lower average costs of production. Why is this? This is because of the economic concept of economies of scale. An example will suffice to explain why this is. Think of the simple example of a cupcake bakery. It has costs of land, labour and capital. Some of these costs will be fixed in other words they will not change with output. Examples of these fixed costs would be labour costs, you need at least one worker for the bakery whether you produce 5 cupcakes a day or 500 cupcakes a day. The same is true of rent of the shop, the rent is a fixed cost because the rent would be $1000 a month whether the bakery produced 10 or 10,000 cupcakes a month. One of the key insights as to why economies of scale exist is because as output goes up the fixed costs are spread over a greater amount of output. This is called an 'Average Cost'. The more output the lower the average cost of production as the fixed costs are spread over more unit of output. It stands to reason therefore that as a firms output grows (and as the firm grows) it's average cost per unit falls and the therefore the price which the firm can charge the consumer can fall as well making the firm more competitive and earning more revenue. The ability to exploit economies of scale is one of the main advantages of growth for a firm and why it is so important for many firms to continue to grow to remain competitive. The main ways that Economies of Scale are derived for a firm are the subject of this weeks learning:
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Fig.1 The average cost curve. As a firm grows it is able to spread it's fixed costs across more units of production. As a result the average cost of production falls AR (THE PRICE) - AVERAGE COST = AVERAGE PROFIT PER UNIT.

Average Costs= Total costs of the firm divided by the total units of the output
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ACTIVITY 1:What are the different sources of Economies of Scale for a firm?  Note taking. Use the data catcher below to take notes on the different economies and diseconomies of scale. You should use pages 212-217 of the textbook (pdf at the bottom of the webpage). You can also watch the Tutor2U video that gives a good summary of why economies of scale exist and the different types of Economies. You will find this video at the bottom of the webpage.
economies_and_diseconomies_of_scale.docx
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ACTIVITY 2 Match the image to the different Economies and Diseconomies of Scale: Now that you have analyzed the different types of economy and diseconomies of scale look over the following  images and consider which economies and diseconomies of scale are present. Write down the letter in the data catcher used in activity 1.
a. BMW production line
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e. Tech firms of Silicon Valley
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b. Amazon warehouse
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f. Some of  many J & J products
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c. McDonalds workers strike
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g. Super Bowl celebrity ads
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d. Energy Corridor Houston
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h. Complexity of management
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ACTIVITY 3: You should now research a firm of your choice and try to identify the ways that economies and diseconomies of scale might affect the firm. You might decide to use one of the firms that you used in week 2 or 3. You should record your examples and evidence on the data catcher for Activity 1. You can find some more ideas for the firms you might research in the Powerpoint below. When you have completed your research you should have a very complete table/data catcher for activity 1.
economies_of_scale.pptx
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ACTIVITY 4: Complete the crossword on  Firms. You can find the pdf below:
apr_5_doc_1.pdf
File Size: 380 kb
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        • Biomes
        • Why do the impacts of tectonic hazards vary?
        • Topic 3: Microclimate Investigation
        • Settlement Studies
        • Geography in the news
      • Year 7 History >
        • 1. The Ancient World >
          • a. Prehistoric Life >
            • Middle School History
          • b. Egypt or Rome? >
            • Historical Enquiry - Comparing Ancient Societies
            • Ancient Egypt
            • Ancient Rome
          • Assessment
        • 2. The Medieval World >
          • "Muck and Misery" Investigation
          • Medieval Guidebook Assessment
          • Medieval Baghdad
        • 3. The American West >
          • Native American Culture
          • The First Settlers
          • Pioneers
          • Mormons
          • Homesteaders
          • Cowboys and cow towns
          • The Plains Wars
          • Impact of settlement on the Native Americans
          • Assessment
        • 4. The Industrial World
        • 5. Civil Rights
        • 6. The Significance of the Lives of Ordinary People
        • 7. Year 7 Assessments
        • 8 . Digital Library
  • HS Geography
    • IB Geography >
      • Introduction to IB Geography
      • Paper 1- Geographic Themes >
        • Urban Environments >
          • Urban sections 1-3
          • Sustainable Cities
        • Leisure, sport and Tourism >
          • Introduction to Leisure, sport and tourism
          • A global sporting event- The Olympics
          • Managing Rural Tourism Hotspots
          • Managing urban tourism hotspots
          • Tourism as a development strategy
          • Sustainable tourism
          • Variations in Sphere of Influence
          • The impact of Rural festivals
        • Geophysical Hazards >
          • Earthquakes
          • Volcanoes
          • Landslides
      • Paper 2: Geographic perspectives >
        • Changing populations >
          • Population density
          • Processes of population change >
            • Megacities
            • Forced migration
          • Possibilities of population change >
            • Aging population
            • Population policies
            • Gender Equality
            • Human trafficking
            • Demographic dividend
          • Debate: Should the UN curb population growth?
        • Global Climate - Vulnerability and Resilience >
          • The causes of global climate change
          • Impacts of climate change
          • ​Disparities in exposure to climate change risk and vulnerability
          • GOVERNMENT LED ADAPTATION AND MITIGATION STRATEGIES
          • Civil society and corporate strategies to address climate change
        • Global resource consumption and security >
          • Global trends in consumption >
            • GLOBAL AND REGIONAL/CONTINENTAL PROGRESS TOWARDS POVERTY REDUCTION.
            • Measuring trends in global consumption
            • Patterns and trends in the availability and consumption of water
            • Global patterns and trends in the availability and consumption of land/food
            • Global patterns and trends in the availability and consumption of energy
          • Nexus thinking >
            • Two countries with contrasting levels of resource security...
            • Waste disposal and recycling
          • Resource Stewardship >
            • Divergent thinking about population and resource consumption trends
            • The circular economy
        • Infographics
      • Paper 3: Global Interactions >
        • Power, place and networks >
          • Global networks and flows
          • Global Interactions & Global Power
          • Human and physical influences on global interactions
        • HUMAN DEVELOPMENT & DIVERSITY >
          • Development opportunities
          • Changing cultures and identities
          • Cultural Hybridity
          • Local responses to global interactions
        • Environmental risks
        • Geopolitical and economic risks
      • IB Revision- mocks 2021
      • IB Revision
      • Internal Assessment
      • Extended Essay in Geography
    • IGCSE Geography >
      • Population and Settlement >
        • Population >
          • Why is population growing?
          • Population density and distribution
          • Over and Under population
          • Dependent populations
          • Population policy: One Child policy China
          • HIV and AIDs
          • Migration
          • Population revision
          • Debate: Should the UN curb population growth?
        • Settlement >
          • Settlement and service provision
          • Urbanisation
      • Natural Environment >
        • Earthquakes and Volcanoes >
          • Plate tectonics
          • Case study of a volcano: Montserrat
          • Haiti Earthquake
          • Why do people live in hazardous areas?
          • Tectonics revision
          • REVISION- WHAT HAPPENS AT TECTONIC PLATES?
        • Rivers >
          • Hydrological characteristics and processes
          • River Landforms
          • Benefits and threats of rivers
          • Management of rivers: Hard and Soft engineering
          • Rivers revison
        • Coasts >
          • Coastal processes
          • Coastal management
          • Different coastal environments
          • Mangroves
          • Hurricanes- cyclone Alia, Bangladesh
          • Hurricanes- Hurricane Harvey
          • Coasts revision
          • Coastal skills
        • Weather and Climate >
          • Weather measurements
          • The Tropical Rainforest Ecosystem
          • Deserts
          • Climate and vegetation revsion
      • Economic Development >
        • 3.1 Development
        • Industry
        • Globalisation
        • Food production
        • Water
        • Tourism
        • Energy
        • Environmental risks of economic development
        • economic development revision
      • Geographical Enquiry
      • Geographical Skills
      • IGCSE Revision
      • Year 11 Geography mock revision: Jan 2021 >
        • Paper 2: Geographical Skills
        • Paper 4: Fieldwork paper
        • Paper 1: Knowledge paper
  • HS Economics
    • IB ECONOMICS TEACHER PAGES >
      • Activity Styles
    • Year 10 >
      • 1.0 THE BASIC ECONOMIC PROBLEM
      • 2.0 HOW MARKETS WORK AND MARKET FAILURE
      • 3.0 THE INDIVIDUAL AS PRODUCER, CONSUMER AND BORROWER >
        • 3.3 Workers
        • 3.4 Firms
        • 3.5 Small firms and causes and forms of the growth of firms
        • 3.6 Economies and diseconomies of scale
        • 3.7 Firms costs, revenues and objectives
        • 3.8 Firms and Production
        • 3.9.5 Monopoly Markets
      • REVISION OF UNITS 1, 2 AND 3
      • SUMMER LEARNING
    • Year 11 >
      • 4.0 THE ROLE OF GOVERNMENT IN AN ECONOMY >
        • 4.1 Introduction to Macroeconomics
        • 4.1.1 The Role of Government
        • 4.2.1 Macroeconomic Aims of Government
        • 4.2.3 Economic Growth
        • 4.7 EMPLOYMENT AND UNEMPLOYMENT
        • 4.8 INFLATION
        • 4.4.0 FISCAL POLICY
        • 4.4.1 MONETARY POLICY
        • 4.1.2 SUPPLY-SIDE POLICIES AND MACROECONOMICS REVISION
      • 5.0 ECONOMIC DEVELOPMENT >
        • Top Trumps: Economic Development
        • 5.1 DIFFERENCES IN ECONOMIC DEVELOPMENT
        • 5.3.1 POVERTY
        • 5.3 POPULATION
      • 6.0 INTERNATIONAL ASPECTS
      • iGCSE Economics Revision Sessions - May 23rd to June 1st
      • Revision Support
    • Year 12 >
      • 1. Introduction to Economics
      • 2. Microeconomics >
        • 2.A. COMPETITIVE MARKETS: DEMAND AND SUPPLY >
          • HL Demand FE 2022
        • 2.B.ELASTICITIES
        • 2.C.GOVERNMENT INTERVENTION >
          • HL 2020 Government intervention
        • 2.D.MARKET FAILURE >
          • To What Extent Does the American Health Care Market Represent a Market Failure?
        • 2.E.THE THEORY OF THE FIRM 1: PRODUCTION, COSTS, REVENUES, AND PROFIT HL
        • 2.F.THE THEORY OF THE FIRM II: MARKET STRUCTURES HL
        • Real World Examples: Theory of the Firm
      • 3. Macroeconomics >
        • 2A. THE LEVEL OF OVERALL ECONOMIC ACTIVITY
        • 2B. AGGREGATE DEMAND
        • 2C. AGGREGATE SUPPLY
        • THE MULTIPLIER (HL)
        • INFLATION
        • LOW UNEMPLOYMENT
        • EQUITY IN THE DISTRIBUTION OF INCOME
        • ECONOMIC GROWTH
        • OVERVIEW OF DEMAND-SIDE AND SUPPLY-SIDE POLICIES
        • FISCAL POLICY
        • MONETARY POLICY
        • SUPPLY-SIDE POLICIES
      • Exam Papers
      • IA's >
        • IA Marking Exercise
        • Economic Diagrams
      • Extended Essay in Economics
      • SUMMER LEARNING
    • Year 13 >
      • 4. International Economics >
        • 4.A.International trade
        • 4.B.Exchange rates and the balance of payments
        • 4.C.Economics integration and the terms of trade
        • 4.D.Be ambitious resources
      • 5. Development Economics >
        • Understanding Economic Development
        • Topics in Economic Development
        • Foreign sources of finance and foreign debt
        • Consequences of economic growth and the balance between markets and intervention
      • IB Economics - Exams
      • IB ECONOMICS REVISION PAGES >
        • Give Me Fives
        • Economics Past Papers
        • Student Video Tutorials
        • Additional Revision Activities
    • Digital library
    • TOK Inspired Economics Page
    • Process for Deciding Economics University Predicted Grades
  • HS History
    • What is History?
    • IBDP History >
      • Pre - IB History
      • Rationale
      • Introductory Tasks
      • Perspectives Blog
      • IB History Revision Sessions - April 6th to May 1st
      • Paper 1 - Prescribed Subject >
        • Military Leaders >
          • Genghis Khan 1200-1227 >
            • Introduction to the Mongols
            • Mongol Historiography
            • Rise to Power
            • Military Might
            • Leadership
            • Campaigns in China and Asia
            • Impact of the Mongols
            • TOK - Genghis
          • King Richard I of England 1173-1199 >
            • Richard I - Life before 1189
            • Richard I - Crusader King 1190 - 1193
            • Richard I - Military Leadership
            • Richard - Impact
            • Richard I - Reputation and Historiography
            • TOK - Richard I
          • Source Skills
      • Paper 2 - World History Topics >
        • Essay Writing Skills - Paper 2
        • Authoritarian States >
          • Theory
          • Hitler >
            • Emergence and rise to power >
              • HOW MUCH HOPE WAS THERE FOR THE SURVIVAL OF THE WEIMAR REPUBLIC 1919-29?
              • HOW DID THE AIMS AND IDEOLOGY OF THE NAZI PARTY DEVELOP BETWEEN 1919-1923
              • HOW FAR DID THE CONDITIONS OF 1929-33CONTRIBUTE TO THE ESTABLISHMENT OF THE NAZI STATE?
              • WHERE DID SUPPORT FOR NATIONAL SOCIALISM COME FROM?
            • Consolidation and maintenance of power >
              • HOW DID HITLER CONSOLIDATE HIS POWER TO CREATE AN AUTHORITARIAN REGIME?
              • WHAT PART DID PERSONALITY AND PROPAGANDA PLAY IN THE CONSOLIDATION OF POWER?
              • WHAT WERE THE MAIN CHARACTERISTICS OF NATIONAL SOCIALIST GOVERNMENT?
              • WHAT WAS THE NATURE AND EXTENT OF OPPOSITION TO NAZI RULE AND HOW WAS IT DEALT WITH?
              • WHAT WAS THE IMPACT OF FOREIGN POLICY ON HITLER'S CONSOLIDATION AND MAINTENANCE OF POWER?
            • Aims and results of policies >
              • WHAT FACTORS INFLUENCED DOMESTIC AND SOCIAL POLICY
              • ​HOW SUCCESSFUL WAS NAZI ECONOMIC POLICY?
              • WHAT WAS THE RELATIONSHIP BETWEEN THE NAZIS AND THE CHURCHES WITHIN GERMANY?
              • HOW DID THE NAZIS SEE THE ROLE OF EDUCATION AND TRY TO ENSURE THE SUPPORT OF YOUNG PEOPLE?
              • ​HOW DID NAZISM AFFECT THE ARTS AND MEDIA?
              • HOW WERE SOCIAL RELIGIOUS AND RACIAL MINORITIES TREATED WITHIN THE NAZI STATE?
              • WHAT WAS THE POSITION OF WOMEN IN THE NAZI STATE?
              • ​HISTORIOGRAPHY: HISTORIANS VIEWS ON HITLER AS ‘MASTER OF THE THIRD REICH’ AND NAZI GERMANY AS A TOTALITARIAN STATE?
              • HITLER: WEAK OR STRONG DICTATOR? NAZI GERMANY: TOTALITARIAN STATE?
          • Castro >
            • Castro RTP
            • Castro Establisment and consolidation
            • Castro: Aims and results of policies
        • Independence movements 1800 - 2000 >
          • India - Asia >
            • Origin and rise of the Independence Movement >
              • 1857 and Colonial India
              • The Growth of Nationalism
              • Factors in the rise of the Independence Movement
            • Methods and success of the Independence Movement >
              • Leadership in India
              • Why did India win independence?
            • Challenges facing the newly independent state
          • Cuba - The Americas >
            • origins of Cuban Independence before 1823
      • Paper 3 - History of Europe >
        • Essay Writing Skills - Paper 3
        • Monarchies in England and France 1066 - 1223 >
          • Medieval England
          • Pre 1066 - Background
          • The Norman Invasion and its Impact
          • The Angevin Commonwealth
          • The Rise of Capetian France
          • Philip Augustus and Richard
          • Normandy and France - Rivalry and War
          • Royal Government in England and France - A Comparison
        • THE FRENCH REVOLUTION 1774 TO 1815 >
          • THE ORIGINS OF THE FRENCH REVOLUTION
          • 1789: THE END OF THE ANCIEN REGIME
          • CONSTITUTIONAL MONARCHY:REFORMING FRANCE 1789-92
          • WAR, REVOLT AND OVERTHROW OF THE MONARCHY 1792-3
          • GOVERNMENT BY TERROR 1793-4
          • THERMIDORIAN REACTION AND THE DIRECTORY 1794-9
          • THE IMPACT OF THE REVOLUTION
          • NAPOLEON: CONSULATE AND EMPIRE
          • DIGITAL RESOURCES: FRENCH REVOLUTION
        • Imperial Russia 1854 - 1924
      • Internal Assessment (IA) >
        • Formulating a Question
        • Initial Proposal
        • IA Section 1
        • IA Section 2
        • IA Section 3
        • IA Referencing
        • Marking Exercise
        • Timeline Class of 2018
      • Core >
        • Extended Essay
        • Theory of Knowledge
        • CAS
    • IGCSE Cambridge History >
      • Revision Checklists
      • REVISION Past Papers >
        • MODEL Paper 1
        • MODEL Paper 2 >
          • MODEL Paper 2: Cold War Causes
          • MODEL Paper 2: Treaties
      • Depth Study A: WW1 >
        • 1. Why was war not over by December 1914?
        • 2. Why was there stalemate on the Western Front?
        • 3. How important were other fronts?
        • 4. Why did Germany ask for an armistice in 1918?
        • WW1 EXAM QUESTIONS
      • Core Content 1: Treaties
      • Core Content 2 & 3: League 20s & 30s
      • Core Content 4 : Blame for Cold War?
      • Core Content 5: Cold War Conflicts
      • Depth Study B: Germany >
        • 1. Was the Weimar Republic doomed from start?
        • 2. Why was Hitler able to dominate Germany by 1934?
        • 3a. How effectively did the Nazis control Germany?
        • 3b. What was it like to live in Nazi Germany?
  • HS Business
    • REVISION Past Papers >
      • MODEL Paper 2
    • Unit 1 : Understanding Business Activity >
      • IGCSE Business 1.1
      • IGCSE Business 1.2
      • IGCSE Business 1.3
      • IGCSE Business 1.4
      • IGCSE Business 1.5
    • Unit 2 : People in Business >
      • IGCSE Business 2.1
      • IGCSE Business 2.2
      • IGCSE Business 2.3
      • IGCSE Business 2.4
    • Unit 3 : Marketing >
      • IGCSE Business 3.1
      • IGCSE Business 3.2
      • IGCSE Business 3.3
      • IGCSE Business 3.4
      • IGCSE Business 3.5
      • IGCSE Business 3.6
    • Unit 4 : Operations Management >
      • IGCSE Business 4.1
      • IGCSE Business 4.2
      • IGCSE Business 4.3
      • IGCSE Business 4.4
    • Unit 5: Financial Information & Financial Decisions >
      • IGCSE Business 5.1
      • IGCSE Business 5.2
      • IGCSE Business 5.3
      • IGCSE Business 5.4
      • IGCSE Business 5.5
    • Unit 6: External Influences on Business >
      • IGCSE Business 6.1
      • IGCSE Business 6.2
      • IGCSE Business 6.3
  • SOCIOLOGY HOME
    • Unit 1: Theory and Methods >
      • How do sociologists study society?
    • Unit 4: Family
    • The story of Power England
  • TEACHER PAGES
    • Mrs Bennett
    • Ms Capper
    • Mr Bish >
      • WS
      • Top 10's
      • Book club
      • Profile
      • blog: How can self-directed learning be made visible?
    • Mrs Morgan >
      • Debate: Should the UN curb population growth?
      • Books
      • TV and Films
      • Travel
    • Mr Jones
    • Mr Skerry
    • Contact
  • HUMANITIES IN THE NEWS
  • CCA'S AND ENRICHMENT
    • SDGs
    • Real Life History >
      • William H Neyer's Letters 1944-45
      • February 1953
      • March 1953
      • April 1953
      • May 1953
      • June 1953
      • July 1953
      • August 1953
      • September 1953
    • Mini Mock Trial
  • GLOBAL JUSTICE LEAGUE OF BISH
    • VIRTUAL MODEL UN Year 9
    • VIRTUAL MODEL UN
    • Texas State Mock Trial Competition Team
    • TED X
    • BISHMUN 2020 BID
    • Earth Day 2020 >
      • Get Learning
      • Get creative
  • New Page
  • Introduction to year 9 Humanities
  • The UNICEF Global Challenge
  • Year 9 - Leadership Enrichment
    • Week 1 - What is Leadership?
    • Week 2 - What are the qualities of leaders?
    • Week 3 - Who am I? Building self-awareness
    • Week 4: Who am I? Quiz
    • Review and Reflection