what is meant by economies of scale
The simple meaning of economies of scale is doing things more efficiently with increasing size or speed of operation. Economies of scale often originate with fixed capital, which is lowered per unit of production as design capacity increases.
What is meant by economies of scale? It is cheaper per unit to produce a large number of a product than it is to produce a small number. It is the process of making products heavier. It is any market that sets prices based upon the weight of the goods.