Economies of scale was the idea behind the invention and implementation of the assembly line in modern manufacturing and franchising in the fast food industry, as just two of many examples.

Learn about economies of scope and economies of scale, how they compare, the differences between them, and how they offer cost advantages to companies.

Internal economies of scale are firm-specific—or caused internally—while external economies of scale occur based on larger changes outside the firm. Both result in declining marginal costs of ...

Countless use cases exist today proving that artificial intelligence (AI) systems are capable of transforming businesses, society and the economy. Examples of AI behaving appropriately in a ...