What is the difference between economies of scale and economies of scope?
What will be an ideal response?
Economies of scale are cost savings from producing large volumes whereas economies of scope are cost savings because of the use of shared resources.
Business
You might also like to view...
Which of the following is the largest parcel of land:
A: 10% of a township; B: 2 sections; C: 2 miles square; D: 5,280 feet x 10,560 feet.
Business
Brand personality analysts identified the popular music channel MTV as daring, spirited, and highly imaginative. As per Jennifer Aaker's research, which of the following brand personality traits best suits MTV?
A) excitement B) sincerity C) competence D) ruggedness E) sophistication
Business