When the Value of the Products or Services a Firm

question 68

Multiple Choice

When the value of the products or services a firm sells increases as a function of the number of business that the firm operates in, ________ are said to exist.

• A) economies of scope
• B) vertical economies
• C) economies of scale
• D) diseconomies of scope

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Definitions:

New Situations

Circumstances or environments that are unfamiliar and require individuals to adapt or learn new responses.

Classical Conditioning

A conditioning method where a response initially triggered by one stimulus comes to be triggered by another, previously neutral stimulus, after the two stimuli have been presented together multiple times.

Presented Stimulus

Any object or event that is perceived by the senses and can affect behavior.

Colic

A condition seen in infants, characterized by excessive, unexplained crying for more than three hours a day, more than three days a week, for three weeks or longer.