6 ms·
May be I'm; but you are not helping with your one liner :( [for "professions that scale" google is pointing to this page] Btw, Wikipedia seems to be more or l
by nebula 18y ago
May be I'm;
but you are not helping with your one liner :( [for "professions that scale" google is pointing to this page]
Btw, Wikipedia seems to be more or less in agreement with my stand here:
[http://en.wikipedia.org/wiki/Economies_of_scale http://en.wikipedia.org/wiki/Economies_of_scale]
"Economies of scale are the cost advantages that a firm obtains due to expansion. Diseconomies of scale are the opposite. Economies of scale may be utilized by any size firm expanding its scale of operation."
OK! It seems I missed the cost advantage part; i.e., the term "economies of scale" is used only if there is a cost advantage to be gained from expansion. Is that right?
- bdr 18y agoSorry, I assumed that that was where you were coming from. Economies of scale usually refers to how the cost of producing a unit decreases as you are producing more units at a time. Taleb calls an endeavor scalable if your reward can increase practically unboundedly with little no extra effort. Examples include pop stars and websites.
- nebula 18y agoThat helps :) Thank you.