Economic actor in the context of "Circular flow of income"

Play Trivia Questions online!

 or

Skip to study material about Economic actor in the context of "Circular flow of income"
Ad spacer

⭐ Core Definition: Economic actor

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<
In this Dossier

Economic actor in the context of Diseconomies of scale

In microeconomics, diseconomies of scale are the cost disadvantages that economic actors accrue due to an increase in organizational size or in output, resulting in production of goods and services at increased per-unit costs. The concept of diseconomies of scale is the opposite of economies of scale. It occurs when economies of scale become dysfunctional for a firm. In business, diseconomies of scale are the features that lead to an increase in average costs as a business grows beyond a certain size.

↑ Return to Menu
LINKED FROM (PARENTS)
← Diseconomies of scale
LINKS TO (CHILDREN)
Circular flow of income → Social science → Production (economics) → Distribution (economics) → Consumption (economics) → Goods and services → Agent (economics) → Economy → Microeconomics → Market (economics) → Macroeconomics → Savings → Expenditure → Factors of production → Labour (human activity) → Capital (economics) → Land (economics) → Entrepreneurship → Inflation → Economic growth → Public policies → Glossary of economics → International economics → World economy →