Question

What is the term given to describe the ability of companies to afford technological improvements and the workforces to propel them into the modern age?

Answer 1

Answer: Economies of scale

Step-by-step explanation:

Economics of scale is defined as the mechanism in which less amount of inputs tends to generate large amount of output in form of products and services.It provides cost advantages to the firm or organization through which product increases..

According to the question economics of scale provides facility to firms to move towards integrated technology and devices along with specific labor aspect .This will helps in improving the processing and production of the company.