If a Firm Is Able to Lower Total Costs by Specializing

question 45

Multiple Choice

If a firm is able to lower total costs by specializing in marketing and distribution while outsourcing production, it is taking advantage of:

• A) less developed nations.
• B) economies of scope.
• C) economies of scale.
• D) technical efficiency.

Identify legal protections available to parties involved in credit transactions and security agreements.

Recognize the effect of minor status on contract obligations and liabilities.

Understand the legal basis for artisans' liens and the conditions under which they're enforceable.

Understand the basic chemistry and biological function of nucleotides.

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Definitions:

World Democracy

The concept of promoting democratic governance and principles at a global level, aiming for political freedom and equality across nations.

Promotion

The act of raising someone to a higher rank or position, often accompanied by an increase in pay, or an effort to make something more popular or widely known.

Oppose Globalization

To oppose globalization means to resist the process by which businesses or other organizations develop international influence or start operating on an international scale, often due to concerns such as cultural erosion, environmental damage, or economic inequality.

Foreign Aid

Financial, technical, or material assistance provided by one country to another, especially to help support development and address humanitarian needs.