Purchasing and manufacturing in high volume to reduce cost per unit is referred to as?

Name: Purchasing and manufacturing in high volume to reduce cost per unit is referred to as?
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

Economies of scale refer to cost advantages that a company can achieve by increasing production. This is done by leveraging the benefits of purchasing materials and components in larger quantities, and by utilizing specialized equipment and facilities to produce more units at a lower cost per unit.

Purchasing and Manufacturing in High Volume to Reduce Cost Per