Economics A-Level
Firm expansion
What Firm expansion means in Economics A-Level, as defined for AQA.
Definition of Firm expansion
Check what you remember
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Reference: AQA
A firm scaling up its entire production process by adjusting all inputs proportionately.
Topics that use Firm expansion
- The law of diminishing returns and returns to scale (AQA A-Level)
Related terms
- Capacity constraints
- Costs of production
- Diminishing marginal returns
- Economies of scale
- Factor inputs
- Factors of production
- Law of diminishing returns
- Long run
Using Firm expansion in the exam
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