IGCSE, A Level Business Student Forum

[KN] Technological advancements
[an] Manufactured goods are produced with advanced machinery which helps in producing high quality goods with less chances of mistakes
[an] Hence a premium price be charged for which results in low costs in a long run and so technical economies of scale take place

[KN] Economic growth
[AN] Industrialization allows to produce high output which requires large no. of workers hence more jobs are created
[an] leading to high incomes, improved SOLS

[KN] manufactured goods could be produced through capital-intensive methods and thus lesser labor will be required
[AN] CoP will fall and thus customers can be charged lower prices
[AN+]business becomes more competitive
[KN] economies of scale
[AN] Industrialization will help businesses expand and its per unit cost will fall when more units are produced than before
[AN+] This will help generate greater profit.

(Kn) increased productivity (an) industrialization means more use of machinery, which is most likely to motivate workers (an+) hence increases productivity and total output.

(Kn) value added (an) industrialization means more manufacturing, and hence value can also be added (an+) therefore businesses can increase their prices and increase to take output leading to higher GDP.

[KN] More advancement in equipments.
[AN] Better quality equipment would help to produce the goods and services more efficiently and with less mistakes.
[AN+] Thus leads towards more productivity from the business.
[KN] Economic growth.
[AN] Industrialization would allow the business to produce better outputs which would improve the economy.
[AN+] This leads towards growth of the business.

[KN] Increased Productivity
[AN] Adaption of more efficient production methods so minimum resources while maximum output.
[AN+] Results in lower costs for the business so increasing it's revenue.
[KN] Economies of Scale
[AN] Due to Mass Units being produced economies of scale could be achieved due to less average costs.
[AN+] This benefits business due to increase profitability.

[KN] Increased Productivity
[AN] Adaption of more effecient production methods so minimum resources while maximum output.
[AN+] Results in lower costs for the business so icreasing it's revenue.
[KN] Economies of Scale
[AN] Due to Mass Units being produced economies of scale could be achieved due to less average costs.
[AN+] This benefits business due to increase profitability