What Is the Difference Between Economies of Scale and Economies

question 65

Essay

What is the difference between economies of scale and economies of scope?

---

Definitions:

Payroll Information

Data related to the salaries, wages, bonuses, net pay, and tax deductions of an employer's employees.

Backup Withholding

A form of tax withholding on income for certain types of payments to ensure tax collection on income that may not otherwise be subject to regular withholding.

Taxpayer Identification Number

A unique identifier assigned to individuals and entities by the IRS or Social Security Administration, used for tax purposes.

U.S. Exempt Payee

A category used for certain entities or individuals that are exempt from tax withholding on certain types of income, as specified by the IRS.