MES Flashcards
1
Q
MES?
A
Lowest scale of production at which a firm can operate efficiently and competitively within a market
2
Q
High MES=
A
A large number of firms can operate (Restaurants)
3
Q
Low MES=
A
Few large firms can operate (Energy generation)
4
Q
Innovation
A
Economic + social value is extracted from knowledge through the development of ideas
