What is the primary function of financial institutions in the economy?

1 answer:

7 0

Financial institutions in the economy determines the cost and the quantity of funds available in the economy to pay for thousands of goods and services we purchase daily.

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Answer: Economies of Scale

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Economies of scale refers to the tendency of costs to reduce per unit as the number of units produced increases. This is because the producer is able to share the costs amongst all the units produced.

George was getting those ingredients to make a single burger so the produce he used were small in quantity and cost him more. The companies that make sandwiches in large numbers buy and produce the ingredients in bulk which reduces their prices.

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