Natural monopolies <span>benefit from large economies of scale, in which the costs of goods decrease as output increases.
</span>A natural monopoly<span> is a distinct type of </span>monopoly<span> that may arise when there are extremely high fixed costs of distribution, such as exist when large-scale infrastructure is required to ensure supply.</span>
Answer:
<u>Supply chain management</u>
Explanation:
Supply chain management refers to a system of organizations, people, activities and information which are involved in the movement of products from the suppliers to the customers.
Such activities transform the inputs into finished products which are delivered to the end customers.
Logistics refers to the activities concerned with efficient movement and transportation of goods and products to the customers. This involves making the product available when and where required and within a specified time frame to yield customer satisfaction.
Operations management is conerned with ensuring effcient business operations with optimal utilization of resources and minimum possible wastage.
Marketing channel management refers to channels of distribution to be selected for making goods and products available such as wholesellers, retailers, etc.
Thus, supply chain management integrates the functions of logistics management, operations mangement, marketing channel management and supply management, to ensure products are available in the right quantities, at right places and at the right times.
True, you can use a formula in Excel spreadsheet!
