The theory of economies of scale is attributed to
A)Henry Ford.
B)Adam Smith.
C)Frederick Taylor.
D)Henri Fayol.

Question

Quizplus · Accepted Answer

The theory of economies of scale is attributed to Adam Smith, a Scottish economist who lived in the 18th century. He observed that the larger the scale of production, the lower the cost per unit of production, due to the spreading of fixed costs and the ability to take advantage of specialization and division of labor. This idea has been further developed and applied in modern business and economics. The other options, Henry Ford, Frederick Taylor, and Henri Fayol, are known for their contributions to management and production, but not specifically to the theory of economies of scale.

The Theory of Economies of Scale Is Attributed to