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Indivisibility

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About 1 pages (73 words)
Indivisibility of labor Summary

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Routledge Dictionary of Economics, Second Edition

indivisibility (D0)

The nature of a FACTOR OF PRODUCTION or commodity supplied only in discrete amounts, not increasing or decreasing in quantity continuously Energy or liquid raw materials, for example, are divisible, but a piece of capital equipment or a skilled employee will be available only in a minimum-sized quantity Indivisibilities are responsible for many FIXED COSTS in the short run and give rise to production economies of scale at high levels of output.

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Indivisibility from Routledge Dictionary of Economics, Second Edition. ISBN: 0-203-00054-4. Published: 2005–06–05. ©2009 Taylor and Francis. All rights reserved.



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