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Sagot :
The railroad is able to offer its service for a low rate because they serve a very, very large number of customers. this is an example of economies of scale
An economy is a place of production, distribution, and trade, as well as the intake of products and offerings. In well-known, it's miles defined as a social domain that emphasizes the practices, discourses, and material expressions related to the manufacturing, use, and management of scarce assets. A given financial system is hard and fast of procedures that entail its tradition, values, schooling, technological evolution, records, social employer, political shape, felony systems, and natural sources as major elements. These elements deliver context, and content material, and set the conditions and parameters in which financial system capabilities. In other words, the economic domain is a social domain of interrelated human practices and transactions that doesn't stand by myself.
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