1. Identify and discuss three types of production as well as growth strategies of firms. 2....
1. Identify and discuss three types of production as well as growth strategies of firms.
2. Describe how a firm in gold mining can grow and expand.
Homework Answers
The three types of production and growth strategies of firms are:
- unit
- batch
- mass
- continous
With these production types a firm grow the maximum with mass as well as continous type as here the supply is enough, but will work only in production business where the demand is enough to absorb the supply.
A firm in gold minning can grow and expand by employing more labour to the site with safe working conditions and better technological machinery. This would enhance the extracted gold amount and hence growth would follow.
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1. Identify and discuss three types of production as well as
growth strategies of firms.
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